Chinese smartphone maker Xiaomi has become the third largest smartphone manufacturer in the world according to the latest data released by IDC for the third quarter of 2014. Preliminary data released for the last quarter (July-September) throws up some interesting information. Xiaomi has overtaken LG and Lenovo and jumped to third position even though the company focused only on China and adjacent markets.
Xiaomi’s market share in Q3 of 2013 was just 2.1% which surged to 5.3% in Q3 of 2014 registering a growth of 211.3%, taking it to third spot, trailing behind only Apple and Samsung. Xiaomi shipped 17.3 million smartphone units in the third quarter of this year compared to just 5.6 million units during the same period last year.
Samsung retains its top ranking in Q3 2014 with shipments of 78.1 million smartphones and a market share of 23.8%. Against this, Apple which is at second position, shipped 39.3 million smartphones during the period and had a market share of 12.0%, almost half that of Samsung. However, if we compare Samsung’s this year’s figures with those of last year, its market share has declined quite a bit from 32.5% in Q3 of 2013 to 23.8% in Q3 of 2014, while the share of Apple has dropped only marginally and the company has actually shipped 5.5 million more units this last quarter.
Shipments and market shares of Lenovo and LG have also increased but they couldn’t compete with the Xiaomi Juggernaut and their rankings fell. If we see overall, there were 65.9 million more smartphones shipped in this year’s Q3 as compared to that of last year.
Xiaomi, which is called the Apple of China, entered the smartphone market only about four years back but has progressed quite rapidly even though it sells its products in China and a few nearby countries such as Singapore, India, Taiwan, Malaysia and Hong Kong only .
In February this year, Xiaomi entered the list of top ten best selling smartphones. Then news came that it had surpassed Apple in China to become the second largest smartphone company in the country only behind Samsung. Then according to Canalys, Xiaomi even overtook Samsung in China in Q2 of 2014 becoming the topmost smartphone vendor in the country.
Xiaomi becomes world’s third largest Smartphone manufacturer
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