Xiaomi Leapfrogs Apple in China's Smartphone Market

      May 08, 2014 09:59

      Chinese Android phone maker Xiaomi has overtaken Apple to claim third place in China's burgeoning smartphone market, according to industry figures released this week.

      Xiaomi owned 11 percent of the market in the first quarter of the year, ahead of Apple's 10 percent, Hong Kong-based market research firm Counterpoint said on Wednesday.

      The Chinese brand has to a degree modeled its handsets and interfaces on the iconic U.S. brand but sells its handsets, including the most recent Xiaomi 3, for considerably cheaper prices.

      Samsung Electronics held onto the No. 1 spot with 18 percent, followed by China's Lenovo with 12 percent. Coolpad and Huawei, both of China, came fifth and sixth with 10 percent and eight percent, respectively.

      Counterpoint focused on the remarkable growth that Xiaomi has achieved in the world's largest smartphone market since it launched in 2011. Its market share in the second quarter of last year stood at just two percent but has shot up to over 10 percent in less than a year.

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