Xiaomi is one of the biggest phone companies in the world, but it’s relatively unknown on these shores.
So what does it do? And how has it been so successful in only three years of selling its own phones?
It may be relatively unheard of here in the west, but Xiaomi is absolutely huge in its native China.
Market research company Canalys recently named it the world’s sixth-biggest smartphone seller. It also ranked Xiaomi the third-biggest in China, behind Samsung and Lenovo.
It was only formed in 2010, and didn't start making its own phones until a year later. Yet it’s already sold 57.4 million smartphones.
Earlier this month, Samsung – the world’s biggest mobile phone vendor – forecast a drop in profits, and even slashed the pay of its top execs to compensate.
The reason? Increased competition from Xiaomi and other Chinese rivals.
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