China's Xiaomi overtakes Apple as No. 2 smartphone vendor

GUANGZHOU -- Chinese smartphone maker Xiaomi leapfrogged Apple in the April-June quarter to become the world's second-largest vendor for the first time, buoyed by strong sales in South America and Africa.

Xiaomi's meteoric rise follows the fall of compatriot Huawei Technologies, which only about a year ago was in a neck-and-neck race with industry leader Samsung Electronics until it was hit by a U.S. blacklist.