China's stock market may be dipping on low scales right now, however the emergence of technology for smartphones are dominating the market.
Apple has long been regarded as the world's leading technology manufacturer,however China's Xiaomi is crushing Apple in the country's local market for the second quarter this year, according to an article in cnbc.com. The brand has also surpassed Huawei, another smartphone manufacturer. Canalys, a research firm, has estimated that Xiaomi owns 15.9% in mobile market shares.
The Beijing-based smartphone company is enjoying the benefits of being on top, yet it is also under intense pressure to remain in its coveted spot, according to the same article. Apple is in currently in 3rd place behind Samsung, and both tech giants are working towards increasing their sales activities in order to regain their rightful places in the market.
Still in the same article, another research firm called Counterpoint reported that Xiaomi partnered with Uber and cleared out their old stocks, refreshing their devices with newer models at the same time, thus being able to reach their standing in the market as of late.
Ibtimes.co.uk featured a recent article showing the top 3 gadget manufacturers in their respected spots during the first quarter. Click to view them here.
The same report mentioned Xiaomi falling behind Apple as the company had been concentrating in the India market early 2015. New Delhi was the launching pad for the new Xiaomi Mi 4i. Another aspect mentioned was the Xiaomi's struggle with the local smartphone market competition, which the company has witnessed continous growth over the years.
Mashable.com featured a snippet of Xiaomi's humble beginnings as a startup company in June 2010 and has collaborated with Temasek Holdings as well as Qualcomm. The company is currently headed by Lei Jun, serving as its CEO and founding chairman. Their primary markets are India, China and Indonesia.
