Xiaomi is now the fifth largest smartphone manufacturer in the world, according to Strategy Analytics. The Chinese vendor, which sold 26 million devices in the first half of 2014, commands 5.1 percent of the worldwide smartphone market, and is edging ever closer to Lenovo's 5.4 percent.
Xiaomi is well-known in China for launching products that offer high-end features at a mid-range price. Since its beginnings in the Chinese market, the vendor has since ventured into several southeast Asian countries like Singapore, the Philippines, Malaysia and more recently, India. Xiaomi got off to a great start in the Indian market, with the Mi 3 being sold out on Flipkart in under 40 minutes during launch. Subsequent sales have seen the device being sold out in under five minutes.
Xiaomi's rise in fortunes symbolises a quarter that has been dominated by Chinese vendors, which saw the likes of Huawei and Lenovo eating away at Samsung's market share. Strategy Analytics found that the second quarter saw total smartphone shipments of 295.2 million, an increase of 27 percent from the same time last year. While North America and European markets have plateaued in terms of growth, emerging markets like Africa and Asia have posted a healthy rise in the number of shipments.
It looks like Xiaomi is not set to lose its momentum anytime soon, as the manufacturer unveiled this year's flagship, the Mi 4, earlier this month.
Source: Strategy Analytics