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Business trends

China's Xiaomi surpasses Apple as world's No. 3 smartphone maker

Asia leads rankings as US giant falls out of top trio for first time in 10 years

A journalist stands next to a poster of Xiaomi Mi MIX Alpha surround-display 5G concept smartphone at a product launch event in Beijing.   © Reuters

TAIPEI -- China's Xiaomi has surpassed Apple for the first time to become the world's third-largest smartphone maker by shipments in the July-September quarter, edging the American tech giant out of global top three for the first time in 10 years, three key market data providers said.

The world's top three smartphone companies are now all from Asia, according to Canalys, IDC and Counterpoint Research. The latest statistics come as Apple on Thursday posted a 29% year-on-year drop in revenue in the Chinese market for the three months through September.

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