Xiaomi passes Samsung as China's top smartphone OEM; Lenovo #3

• With a 14% unit share on the back of 15M shipments (+240% Y/Y), Xiaomi passed Samsung (OTC:SSNLF) in Q2 to become China's top smartphone OEM, per research firm Canalys.
• Samsung, Lenovo (OTCPK:LNVGY), and Yulong (Coolpad) are each estimated to have ~12% of the market. In Q1, Samsung had 18.3% to Lenovo's 11.3% and Xiaomi's 10.7%.
• Xiaomi has gained ground by offering Android phones with high-end specs at mid-range prices. Successful viral marketing campaigns and a popular custom Android UI (MIUI) also haven't hurt.
• The company just launched a new flagship (the MI4) that starts at $320 unsubsidized, and features a 13MP f/1.8 camera and 5" 1080p display. It's counting on former Google exec Hugo Barra to spearhead an international push; Canalys estimates 97% of Xiaomi's Q2 shipments went into mainland China.
• Xiaomi's "borrowing" of ideas from Apple and other rivals has produced controversy. Not only does Xiaomi's hardware take many design cues from the iPhone, founder Lei Jun has cultivated a Steve Jobs-like image, and ended his MI4 launch presentation with a slide prefaced by Apple's "One more thing..." catchphrase.