According to a report, Chinese smartphone maker Xiaomi has also left Apple in revenue and shipments. Reports have revealed that Xiaomi Corporation earned a record 64 percent revenue in the second quarter of the year.
Apart from this, the share of Xiaomi has also seen a jump in the stock market. The reason of surge in Xiaomi revenue is also believed to be the expansion of IoT products by the company. The company whose sales were 53.54 billion yuan till a year ago, today the sales of that company have increased to 87.8 billion yuan.
The major reason for this advantage is the ban on Huawei Technologies in the US. It is believed that due to the ban imposed on Huawei, several US customers of Huawei shifted towards Xiaomi.
Market shares of other Chinese mobile companies have also seen a jump. Xiaomi has become the second top-selling smartphone company in the world due to earning more revenue in such a short span of time. Samsung and Apple are already at the top of this list before Xiaomi.