GUANGZHOU -- Xiaomi, once a leading contender in the global smartphone market, has begun to lose its shine as a shift toward cheaper products tarnishes the Chinese maker's premium image.
The Chinese smartphone startup took the global market by storm soon after its 2010 founding, snagging the third-largest share of sales behind giants Samsung Electronics and Apple. Starting in 2014's July-September quarter, the company stayed consistently in the global top five, according to U.S. research firm IDC, by all appearances establishing itself as a new global standard.
