Xiaomi has done it. The phone maker from China, who came into existence four years ago in 2010, and entered the market only three years back in 2011, is now the world's third largest Smartphone manufacturer, according to IDC. Their growth numbers are amazing, standing at 211.3% in Q3 year-over-year. In Q3 last year, Xiaomi shipped 5.6 million Smartphones. That number has grown to 17.3 million Smartphones this year.

Xiaomi now commands 5.3% of the market, sitting just above Lenovo's 5.2% and LG's 4.6% market share. Meanwhile, Samsung's market share has dropped sharply, with a YoY change of 8.2%.