Market analyst firm Canalys has released its preliminary report on the global smartphone market. As per the latest data, Samsung has retained its numero uno position in the second quarter of 2021. However, the most interesting bit from this report is that the Chinese brand Xiaomi has surpassed Apple to become the world's second-biggest smartphone maker in terms of volumes.

The smartphone market, as a whole, shows a sign of recovery with 12 percent growth in Q2 2021. Samsung held onto its crown with a 19 percent market share. Xiaomi came in a close second with a 17 percent share owing to its whopping 83 percent growth. Apple slid down to the third spot with a 14 percent share and just one percent growth. The fourth and fifth positions were taken by BBK electronic's subsidiaries Oppo and Vivo with 10 percent share each. If you consider these companies as a single entity, BBK electronics claims the third position pushing Apple further down to a fourth spot.

It is worth noting that Xiaomi's inventory mostly belongs to the budget segment. Compared to Apple, Xiaomi's average selling price is around 75 percent cheaper. To boost its revenue, the Chinese brand will require its premium offerings such as the Mi 11 Ultra to fire along with its budget line-up. According to Canalys, Xiaomi's major sales boost came from Latin America, Africa, and Western Europe. Xiaomi's rapid growth can be attributed to Huawei's struggle caused by the US sanctions.