Xiaomi India Photo: VCG

China's leading smartphone producer Xiaomi's 5G mobile phone shipments in Central and Eastern Europe led the local market in the third quarter of 2021, with a massive 42-percent market share, surpassing Apple and Samsung, according to a report released by Strategy Analytics, a market research agency on Wednesday.

Xiaomi recorded an annualized shipment growth rate of more than 5,700 percent, the report said. 

The growth of other Chinese smartphone manufacturers was also strong. In the third quarter, realme and OnePlus ranked fourth and fifth in Central and Eastern Europe markets in terms of 5G mobile phone shipments, with market shares of 7.2 percent and 2.5 percent, respectively.

The share price of Hong Kong-listed Xiaomi rose 3.89 percent on Thursday, boosted by the positive news.

"Xiaomi was the leading Android 5G smartphone vendor globally in the third quarter of 2021, and the leading 5G smartphone vendor overall in Central and Eastern Europe," Ville-Petteri Ukonaho, associate director at Strategy Analytics, was quoted as saying in the report. 

Analysts also predicted in the report that Xiaomi will maintain its lead in Central and Eastern Europe for the full year of 2021 and is likely to remain the 5G smartphone shipment leader in 2022.

Liu Dingding, a veteran industry analyst, told the Global Times on Thursday that as the Chinese vendor expands in overseas markets, it is filling the void left by its rival Huawei, which has gradually retreated following US government's supply restrictions that crippled the company's ability to source key parts like high-end chipsets for its devices.

Both Xiaomi's 5G products in the Mi series and the 4G mobile phones of the Redmi series have been recognized by foreign consumers for their cost-effective services, Liu added.

In the second quarter of 2021, Xiaomi overtook Samsung to capture the top slot in European smartphone shipments for the first time, with 13 million units sold, according to another report which was  issued by Strategy Analytics in August. 

Samsung and Apple ranked second and third. 

Two other Chinese vendors -- Oppo and realme -- ranked fourth and fifth in the European market in terms of shipments in the second quarter.