Xioami, a Chinese company has surpassed Apple to become the world’s second-biggest smartphone maker for the first time as it took 17% of worldwide shipments for the second quarter of 2021, just 2% behind Samsung’s 19%, according to the market research firm Canalys on Thursday, July 15, 2021.

Compared with the same period in 2020, Xiaomi’s shipments jumped more than 80%.

Apple came in third place, accounting for 14% of total global shipments. Oppo and Vivo, both Chinese smartphone manufacturers, came in second and third, with 10% each.

This is the first time ever Xiaomi took second place in the Canalys report. In the first quarter of 2021 and for all of 2020, Samsung and Apple were the world’s top two smartphone brands. In 2019, Samsung and Huawei topped the list.

Becoming the No. 2 vendor in the world is an “important milestone in Xiaomi’s history,” Lei Jun, founder and CEO of Xiaomi, said in a letter to employees on Friday.

“Notwithstanding the celebrations now, I want to make sure we can maintain our second place steadily and firmly in the future,” he said.

Xiaomi’s stock surged nearly 5% in Hong Kong on Friday.

According to Canalys, Xiaomi’s shipments increased by more than 300% in Latin America, 150% in Africa, and 50% in Western Europe during the second quarter.

The Chinese smartphone maker is still largely targeting budget-minded consumers, Stanton said. Compared with Samsung and Apple, Xiaomi’s average selling price is around 40% and 75% cheaper respectively, he added.