Xiaomi surpasses LG as one of the world's largest smartphone manufacturers

TrendForce has published its latest financial results for the top 5 largest smartphone manufacturers as of Q2 2015. The firm has estimated a shipment volume of 304 million units this past quarter, which is up 1.9 percent compared to the previous quarter, but still weaker than anticipated.

In the wake of weaker sales, TrendForce has revised its growth forecast for all of 2015 from 11.6 percent to 8.2 percent. On the other hand, the smartphone market in China has grown considerably to 15.6 percent with shipments totaling 126 million units in the region.

Samsung remains the world's largest smartphone manufacturer with a market share of 26.8 percent. Apple is far behind in second place at 16.4 percent, which is down considerably from the previous quarter when Apple had 20.5 percent of the market. Huawei and Xiaomi take third and fourth place, respectively, and LG rounds up the top 5. Unlike Samsung and Apple, these manufacturers have seen an increase in market share compared to the previous quarter from a global perspective.

Huawei is the top Chinese manufacturer with a market share of 18.3 percent. Xiaomi saw a slight decrease, but holds strong at second place. TrendForce has predicted only 34 million Xiaomi devices sold during the first half of 2015 and that the manufacturer will not reach its goal of 100 million units by the end of the year. Instead, the firm anticipates only 70 million units shipped for all of 2015.

Meanwhile, Lenovo experienced a drop in market share from 15.7 percent to 12.7 percent. Its recent restructuring and new Zuk branding are expected to alleviate some of the lost as Lenovo continues to struggle against rising Chinese manufacturers like Xiaomi, Huawei, and TCL. TrendForce is expecting a 20 to 30 percent drop in Lenovo shipments for all of 2015. TCL and Oppo are in fourth and fifth place, respectively.

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