Xiaomi passes Apple to become the #2 smartphone vendor

I doubt it has a serious effect.

I think most iPhone users buy the latest model every year, and that those who consistently use older or secondhand devices, wouldn't buy new often enough to affect Apple’s sales anyway.

Xiaomi high end phones (mi branded ones) are also decent quality and lasts 5+years. They are one of the few that provides regular SW updates for couple of years.

At the low end they brand it as redmi and while the hardware lasts long, the newer android versions run slower and you end up purchasing new phones every few years.