/GettyImages-1229788723-4788dd3b328d47a9a750860948f0f3b6.jpg "Why Xiaomi Is the World's Second-Largest Phone Company")
Apple recently lost its spot as the second-largest smartphone vendor to a company that many Americans may not be familiar with, shining a light on the growing popularity of affordable phones from up-and-coming brands around the world.
Beijing, China-based Xiaomi snagged the No. 2 spot for smartphones after South Korea’s Samsung for the first time ever, according to a study of second-quarter data by independent analyst company Canalys. The rankings are based on each company’s market share for shipments.
Xiaomi has proven to be popular for its affordable devices, but is now branching out and looking to grow its higher-end devices, too, Ben Stanton, research manager at Canalys, told Lifewire in an email. The research firm calculates that the average selling price of Xiaomi phones is about 40% cheaper than Samsung phones, and 75% less than Apple.
