AKIPRESS.COM - Samsung's smartphone market share is declining in China and other key markets overseas, Chosun reports.

Meanwhile, Chinese phone maker Xiaomi accounted for 14 percent of the market in China in the second quarter, snatching the No. 1 spot in the world's largest market from Samsung for the first time.

Samsung's share fell to 12 percent.

The Korean electronics giant led the Chinese market in the first quarter with 18.3 percent, but Xiaomi caught up quickly. Just three years ago, Xiaomi accounted for less than one percent, but the tables were turned when it started rolling out high-performance gadgets at half the cost of Samsung and regularly upgrading software.

Samsung also ceded its No. 1 mobile phone market position in India to local manufacturer Micromax, which occupied 16.6 percent compared to Samsung's 14.4 percent.

Samsung plans to launch a counterstrike by unveiling its new Galaxy Note 4 smartphone and bolstering its lineup of low and mid-priced products.