$xiaomi - wow now second largest phonemaker

Chinese smartphone maker Xiaomi was the second-largest smartphone maker in the second quarter, overtaking Apple, according to analyst firm Canalys. Xiaomi had a 17% share of global smartphone shipments, ahead of Apple’s 14% and behind Samsung’s 19%. “Xiaomi is growing its overseas business rapidly,” Canalys research manager Ben Stanton said in a press release, noting shipments increased 300% year on year in Latin America and 50% in Western Europe. The Chinese smartphone maker posted year-on-year smartphone shipment growth of 83% versus 15% for Samsung and 1% for Apple. Stanton noted, however, that Xiaomi phones are still skewed toward the mass market, with the average selling price of its handsets 75% cheaper than Apple’s.