The company has managed to leapfrog its competitors in a big way
Xiaomi is now the third largest smartphone maker in the world, according to research firm IDC. The company has rocketed straight to the top of the leaderboards, bypassing long-time players like Lenovo and L, posting tremendous growth of 211.3% from their standing last year.
What’s even more amazing is the fact that the company has managed all of this while staying inside Asia.
IDC says that the company’s current flagship, the Mi 4 was the key to the company’s success, meant as a high-end alternative to the current flagship offerings of its competitors at more than half the price.
Read: We go hands-on with the Xiaomi Mi 4Â
Other smartphone vendors also enjoyed excellent growth – LG has grown 39.8% while Lenovo posted 38% growth as well. Even Apple has grown 16.1% because of its iPhone 6 and 6 Plus offerings. The biggest loser this quarter? Samsung. The Korean giant has posted a decline of 8.2%. This is attributed by IDC to “continued competitive pressure from nearly every side coupled with cooling demand for its high-end devices.”
