Apple peels back to third-place thanks to Xiaomi

Xiaomi is now officially the world’s second biggest smartphone maker, knocking American titan Apple to third place. 

According to Canalys, Xiaomi had 17% market share in the second quarter, ahead of Apple’s 14%. The Chinese tech company is also not too far from industry leaders Samsung, which has 19%. 

News of Xiaomi’s market strength drove its stock price upwards over 4.8% on Friday.

Canalys highlighted how Xiaomi’s smartphone prices were far lower than its rivals.

“Compared with Samsung and Apple, its average selling price is around 40% and 75% cheaper respectively,” said Canalys Research Manager Ben Stanton. 

“So a major priority for Xiaomi this year is to grow sales of its high-end devices, such as the Mi 11 Ultra.”

Apple probably wasn’t expected to be dethroned by an out-cider.