China’s tech giant Xiaomi has beaten Apple in the smartphone production race.
In a report from Canalys it was seen that Xiaomi has surpassed Apple and become the second-largest smartphone maker.
Now Xiaomi has now got 17% share in the world of smartphone user base leaving behind Apple at 14%, however Samsung leads the race at 19%.
Research manager from Canalys Ben Staton has said that Xiaomi has increased their overseas market very rapidly. It was seen that there is 300% more growth in Latin America and 50% more in Western Europe. They have achieved this mark as their product compared to Apple is 75% cheaper.
They are now eying into the premium flagship smartphone segment with the Mi 11 Ultra and Mix Fold which is the first foldable phone from the company.
Though Xiaomi has to face competition from Oppo and Vivo as they are also trying very hard to get into the high-end market. Xiaomi has its eyes on the number 1 spot defeating Samsung and has already started planning strategies to do so.
Meanwhile, Xiaomi has also entered into the electric vehicle business with an investment of $10 billion in the next 10 years.