Earlier this week, Xiaomi CEO Lei Jun announced in a short Weibo post that his company had shipped more than 10 million smartphones in the month of October.
Coming to the individual smartphone makers, Samsung shipped 83.3 million units in Q3, revealed IDC, whereas Apple shipped 46.7 million units, followed by Huawei with 39.1 million, Oppo with 31.4 million and Xiaomi with 27.7 million units.
"Collectively, the industry continues to grow, but at a much slower pace than past years", said Ryan Reith, a vice president with the global market intelligence firm.
During its mega online festival sales in September, Xiaomi offered discounts on most of the smartphone models, in addition to aggressive bank offers and easy financing options. Its smartphone shipments recorded a growth of 9 per cent annually during the quarter.
New Huawei models "will challenge both Apple and Samsung at the top of the market regarding premium flagship offerings as well as in the race for overall worldwide market dominance", IDC said. In annual terms, sales increased by about 22 percent.
According to Counterpoint Research's "Market Monitor" service, global smartphone shipments grew 5 per cent (Year-on-Year) in the third quarter.
When it comes to the overall smartphone market, smartphone OEMs shipped a total of 373.1 million smartphones worldwide in the third quarter of 2017.
"The fourth quarter will be extremely competitive as vendors will fight it out to win over holiday shoppers", said IDC research manager Anthony Scarsella.
The third-quarter smartphone shipment estimates are in.
IDC has forecast smartphone sales growth in the current quarter of less than a percent, due in part to limited supply of the iPhone X and high prices on flagship models prompting people to put off buys until handsets are more affordable.