Xiaomi dials up compelling performance in 2nd quarter

Chinese handset maker Xiaomi Corp nearly tripled its smartphone shipments in the second quarter, beating longtime market leader Samsung Electronics Co Ltd in China, the world's largest smartphone market, an industry report said.

Analysts said the rapid rise of homegrown smartphone brands is inevitable, as Apple Inc and Samsung are the only overseas vendors to have a sizable market share in the country.

Xiaomi, based in Beijing, shipped 15 million devices from April to June in China, taking 14 percent of the nation's market share, according to Canalys. Samsung's shipments in China were a little more than 13 million in the same period.