Chinese manufacture Xiaomi is now the world's third biggest smartphone manufacturer, according to recent estimates.
Market analysis company IDC has released its latest figures on the state of the telecommunications industry, and they make for interesting reading.
Samsung is still out front in the number one spot, and Apple remains snugly entrenched at number two. But there's a new name at number three: Xiaomi.
It's a top three that's been corroborated in a separate report from Strategy Analystics.
What's most remarkable about Xiaomi's leapfrogging of the likes of LG and HTC in recent times is that, unlike the aforementioned rivals, it doesn't have any presence outside of Asia. In fact, Xiaomi predominantly caters to its home Chinese market.
This just goes to demonstrate, if any demonstration were needed, how massive the exploding Chinese smartphone market is, and how dominant Xiaomi is within it.
Interestingly, both analyst reports suggest that Samsung, while still out front, has lost a sizeable chunk of its market share. From owning a third of the smartphone market just a year ago, it now owns just a quarter.
This was reflected in Samsung's most recent quarterly earnings report, which saw the company's profits taking a dramatic nose-dive of around 60 percent over the year. With the South Korean electronics giant deriving more than half of its profits from smartphone sales, it's easy to see that Samsung's new Chinese rivals (Lenovo is also doing very well, tied at number four with LG) are hitting it where it hurts.
Read More: Xiaomi Mi4 review
Via: The Verge