Canalys, the leading global market research firm, launched its Q2 global smartphone market report in which Xiaomi claimed the second spot with a 17 percent share and an 83 percent year-on-year growth, surpassing Apple.
According to the report, Xiaomi is now transforming its business model from a challenger to an incumbent, with initiatives such as channel partner consolidation and more careful management in the open market. Canalys commented that Xiaomi’s new goal is to displace Samsung to become the world’s largest vendor.
Xiaomi’s global expansion as well as transformation in new retail channels have been an important driving force in helping the company become the second largest smartphone manufacturer in the world. According to the latest global smartphone data Xiaomi is expanding fast in overseas markets, reaching over 300 percent year-on-year growth in Latin America, 150 percent in Africa and over 50 percent in Western Europe.