Xiaomi Races Ahead, Kicks LG Out of the Top 5 in Third Quarter
Xiaomi’s short life in the consumer electronics business is marked by immense growth. The company was founded in 2010 and since then it has not looked back. It even went ahead and kicked Samsung from the top of the points tally in China. It is going through a rough patch at the moment in India but globally, happy news keeps pouring in for the company. American information technology research and advisory firm, Gartner has released some encouraging numbers for the smartphone industry.
Gartner news report shows that the smartphone is growing at a good pace and business is booming. Smartphones sales saw an increase of 20 percent; the industry sold over 301 million units in the third quarter of this year. A fact that is even encouraging for the industry is that smartphones are eating into the shares of feature phones who saw a decrease of 25 percent.
This report also leads to a major reshuffle in the points tally for smartphone makers. Samsung still managed to guard its fortune at the top of the table even with an eight percent drop and it now holds 24.4 percent of the market. But the news that was the cause of a lot of worry for the big name brand is the arrival of Xiaomi in the league of the big boys. With this, the Chinese disrupting force has kicked out LG from the top 5 points tally.
The message is coming loud and clear, people have seen the possibility of high specs at low price, and they are going for it. The companies that will adapt to this will have a comfortable stay in the points, and the rest will go to dust. It’s time the companies stopped cheapening out on providing decent specs at a price point, if small time manufacturers can do it, so can the big brands with their massive capital.
