Beijing: China's Xiaomi has become the fifth largest smartphone maker in the world. The Chinese company reached this milestone in just three years.
The electronics firm run by billionaire Lei Jun has captured five percent of the global market share in the last three months, according to new figures from Strategy Analytics.
Xiaomi edged out Korean giant LG to claim the fifth spot.
It now has a share of 5.1 per cent of the world's smartphone business up from 1.8 per cent last year.
The company primarily sells its phones and tablet computers through flash sales on its site.
Samsung remains the global smartphone leader with a 25.2 per cent share of the market in Q2 of this year, followed by Apple with 11.9 per cent. China's Huawei with 6.8 per cent and Lenovo with 5.4 per cent are at the third and fourth positions respectively.
In India, Xiaomi has launched three phones. Its flagship offering Mi3 sold out on e-commerce sites within no time, media reports said.
Globally, smartphone shipments grew by 27 percent year-on-year to reach a record 295 million units in the second quarter.
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