BEIJING - China's Xiaomi Inc has become the world's third-largest smartphone vendor just three years after first hitting the market, trailing only Samsung Electronics Co Ltd and Apple Inc, according to a new industry study.
Strategy Analytics said Xiaomi accounted for 6 per cent of all 320 million smartphones shipped during July-September. Samsung made up 25 per cent, down from 35 per cent a year earlier due to rising competition from several directions.
Apple's share also fell slightly to 12 per cent.
"Xiaomi was the star performer," Strategy Analytics Executive Director Neil Mawston said in a statement. "Samsung continues to face tough competition from Apple at the higher-end of the smartphone market, from Xiaomi and Huawei in the middle-tiers, and from Lenovo and others at the entry-level."
Xiaomi has been the top seller in its home market of China and recently entered India, where it sells phones exclusively through e-commerce site Flipkart.
Vice President Hugo Barra told Reuters in Bangalore last month that the company aimed to sell 100,000 phones a week in India in October when the country celebrates Diwali.