Xiaomi Corp. has become the world’s second biggest smartphone maker over the past quarter following an 83 per cent jump in shipments, according to preliminary estimates by Canalys.
This marks the first occasion that Xiaomi, the Chinese maker of everything from rice cookers to gaming monitors, has broken into the top two, historically dominated by Samsung Electronics Co. and Apple Inc.Samsung had a 19 per cent share in the second quarter, Xiaomi had 17 per cent and Apple was at 14 per cent, according to the research firm’s data. Shares of Xiaomi rallied as much as 4.1 per cent on Friday, the best performer on Hong Kong’s benchmark Hang Seng Index.