Last quarter’s preliminary smartphone shipment data is here from research firm IDC and it reveals an interesting development. As per IDC Worldwide Quarterly Mobile Phone Tracker, Xiaomi has taken over LG and Lenovo to become the third-largest smartphone vendor in Q3, 2014.

According to IDC, Xiaomi shipped 17.3 million smartphones last quarter, up from 5.6 million units during the same period last year. This Chinese smartphone vendor accounted for the 5.3 percent of all the smartphones shipped in Q3.

Among other smartphone vendors, Samsung, despite losing market share, remains at the top of the table with 78.1 million shipments, followed by Apple with 39.3 million shipments. LG and Lenovo jointly grabbed the fourth spot with 16.8/16.9 million unit shipments in Q3, 2014 (IDC declares a statistical tie in the worldwide mobile phone market when there is less than 0.1% difference in the market share).

“Despite rumors of a slowing market, smartphone shipments continue to see record-setting volumes. We’ve finally reached a point where most developed markets are experiencing single-digit growth while emerging markets are still growing at more than 30% collectively. In these markets, smartphone price points are making mobile computing possible where we once expected feature phones to remain dominant. This is great news for overall volumes, but the challenge has now become how to make money on devices that are quickly becoming commodity products. Outside of Apple, many are struggling to do this,” said Ryan Reith, Program Director with IDC’s Worldwide Quarterly Mobile Phone Tracker.