Xiaomi becomes top 3 smartphone maker in just 3 years

Xiaomi Corp became the world's third-largest smartphone vendor after outselling rivals in its home market of China with inexpensive devices packed with high-end features.

Xiaomi had 5.6 percent of the global market in the third quarter, the first time it cracked the world's top three, Strategy Analytics said in an e-mailed statement on Thursday.

South Korea-based Samsung Electronics Co remained the largest, followed by Apple Inc.