Xiaomi has just made its much-anticipated launch of the Mi2 smartphone, promising impressive specs at a low price.
With a fresh round of financing, Xiaomi is now valued at $4 billion, and the company has promised to increase production to meet market demand.
In China, there is a rising trend in the use of locally-developed smartphone and smartphone operating systems.
China’s popular XiaoMi MiOne has pre-sold a record number of smartphones, reaching 150,000 in just under 13 minutes of being available online.
China’s top smarphone brand Xiaomi is targeting 5 million devices sold this year through partnership with the country’s top mobile carriers.