China's Xiaomi has overtaken iPhone maker Apple to become the world's second-biggest smartphone manufacturer, according to a new report.
The company, which is based in Beijing, sold more than 51 million smartphones in the second quarter, more than 22.7 million more phones than a year earlier, US research company Gartner said.
Its market share surged to 15.5 per cent in the three months to June 30, up from 9.5 per cent in the same period last year.
“Xiaomi registered 80.5 per cent growth in its smartphone sales owing to a stronger online presence and fast expansion in the global markets beyond Asia-Pacific, led by investments in retail channels and partnerships with communication service providers,” Gartner said.
Driven by strong smartphone sales, Xiaomi’s net profit climbed to nearly 8.3 billion Chinese yuan ($1.3bn) in the April-June period. Revenue during the period rose 64 per cent to 87.8bn yuan, beating analysts' estimates of 85bn yuan.
Overall, global smartphone shipments to end users stood at 328.8 million in the second quarter, an increase of 10.8 per cent year-on-year, despite supply constraints because of Covid-induced production disruptions and component shortages.
“Demand for smartphones continued to be strong in this quarter as buyers preferred higher specifications and better user experience. The pent-up demand from 2020 continues to drive advantage for global smartphone vendors in 2021,” said Anshul Gupta, senior research director at Gartner.
“Regions with higher penetration of 5G connectivity saw strong demand for 5G smartphones and were growth drivers for leading smartphone vendors.”
South Korean smartphone manufacturer Samsung maintained its top position with 17.6 per cent market share in the second quarter. It sold 57.7 million smartphones in the three-month period, an annual increase of 5.4 per cent.
Apple, which is expected to launch new iPhones this month, sold more than 49.2 million devices to grab a 15 per cent market share.
Other Chinese smartphone vendors Oppo and Vivo grew 42.4 per cent and 41.6 per cent annually, respectively, in the second quarter.
Aggressively priced mid-tier smartphones, a wider distribution network and robust marketing campaigns in Europe boosted the growth of Oppo, said Gartner. Vivo is continuing to expand its market presence beyond the Asia-Pacific region, beginning with a focus on Europe, the Middle East and Africa.
In numbers: PKK’s money network in Europe
Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010
Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille
Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm
Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year
Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”
Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners
TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013
Empire of Enchantment: The Story of Indian Magic
John Zubrzycki, Hurst Publishers
F1 The Movie
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Tips for newlyweds to better manage finances
All couples are unique and have to create a financial blueprint that is most suitable for their relationship, says Vijay Valecha, chief investment officer at Century Financial. He offers his top five tips for couples to better manage their finances.
Discuss your assets and debts: When married, it’s important to understand each other’s personal financial situation. It’s necessary to know upfront what each party brings to the table, as debts and assets affect spending habits and joint loan qualifications. Discussing all aspects of their finances as a couple prevents anyone from being blindsided later.
Decide on the financial/saving goals: Spouses should independently list their top goals and share their lists with one another to shape a joint plan. Writing down clear goals will help them determine how much to save each month, how much to put aside for short-term goals, and how they will reach their long-term financial goals.
Set a budget: A budget can keep the couple be mindful of their income and expenses. With a monthly budget, couples will know exactly how much they can spend in a category each month, how much they have to work with and what spending areas need to be evaluated.
Decide who manages what: When it comes to handling finances, it’s a good idea to decide who manages what. For example, one person might take on the day-to-day bills, while the other tackles long-term investments and retirement plans.
Money date nights: Talking about money should be a healthy, ongoing conversation and couples should not wait for something to go wrong. They should set time aside every month to talk about future financial decisions and see the progress they’ve made together towards accomplishing their goals.
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Key recommendations
- Fewer criminals put behind bars and more to serve sentences in the community, with short sentences scrapped and many inmates released earlier.
- Greater use of curfews and exclusion zones to deliver tougher supervision than ever on criminals.
- Explore wider powers for judges to punish offenders by blocking them from attending football matches, banning them from driving or travelling abroad through an expansion of ‘ancillary orders’.
- More Intensive Supervision Courts to tackle the root causes of crime such as alcohol and drug abuse – forcing repeat offenders to take part in tough treatment programmes or face prison.
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Kolkata Knight Riders 169-7 (20 ovs)
Rajasthan Royals 144-4 (20 ovs)
Kolkata win by 25 runs
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What it means to be a conservationist
Who is Enric Sala?
Enric Sala is an expert on marine conservation and is currently the National Geographic Society's Explorer-in-Residence. His love of the sea started with his childhood in Spain, inspired by the example of the legendary diver Jacques Cousteau. He has been a university professor of Oceanography in the US, as well as working at the Spanish National Council for Scientific Research and is a member of the World Economic Forum’s Global Future Council on Biodiversity and the Bio-Economy. He has dedicated his life to protecting life in the oceans. Enric describes himself as a flexitarian who only eats meat occasionally.
What is biodiversity?
According to the United Nations Environment Programme, all life on earth – including in its forests and oceans – forms a “rich tapestry of interconnecting and interdependent forces”. Biodiversity on earth today is the product of four billion years of evolution and consists of many millions of distinct biological species. The term ‘biodiversity’ is relatively new, popularised since the 1980s and coinciding with an understanding of the growing threats to the natural world including habitat loss, pollution and climate change. The loss of biodiversity itself is dangerous because it contributes to clean, consistent water flows, food security, protection from floods and storms and a stable climate. The natural world can be an ally in combating global climate change but to do so it must be protected. Nations are working to achieve this, including setting targets to be reached by 2020 for the protection of the natural state of 17 per cent of the land and 10 per cent of the oceans. However, these are well short of what is needed, according to experts, with half the land needed to be in a natural state to help avert disaster.
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