Xiaomi Corp. has climbed to No. 3 among the world’s top smartphone makers after outselling rivals in its home market of China with lower-priced devices packed with high-end features, Bloomberg News reported on Thursday, citing figures released by market researcher Strategy Analytics.
In the three months to September, Xiaomi grabbed 5.6 percent of the global market, next to Apple Inc. with 12.3 percent and Samsung Electronics Co. with 24.7 percent, the report said.
Samsung, although still the largest seller, cut its market share from 35 percent a year earlier, while Apple’s share shrank from 13.4 percent.
Next to Xiaomi were LG Electronics Inc. with 5.2 percent, and Huawei Technologies Co. with 5.1 percent, the report said.
“Xiaomi was the star performer in the quarter,” said Neil Mawston, executive director of Strategy Analytics. “Xiaomi’s Android smartphone models are wildly popular in the Chinese market. Xiaomi’s next step is to target the international market.”
The Beijing-based company plans to expand overseas, targeting 10 new markets including India and Singapore.
Xiaomi keeps costs down by selling directly to consumers online, the report said, adding that it plans to boost sales fivefold to 100 million phones next year.
Meanwhile, data released by International Data Corp. shows Samsung leading with 23.8 percent, followed by Apple with 12 percent, Xiaomi with 5.3 percent, Lenovo Group Ltd. with 5.2 percent and LG with 5.1 percent.
“The challenge has now become how to make money on devices that are quickly becoming commodity products,” said Ryan Reith, program director of IDC’s Worldwide Quarterly Mobile Phone Tracker. “Outside of Apple, many are struggling to do this.”
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