In the next five to 10 years, Xiaomi has the opportunity to become the
world's number one smartphone company," Lei Jun told the
Chinese-organised World Internet Conference.
Xiaomi, which takes its name from the Chinese word for millet, has excelled in China's cut-throat smartphone market by delivering high-performance products at cheap prices.
In less than five years, the Chinese company has become the world's number three smartphone vendor, behind only Apple and South Korea's Samsung, shipping 17.3 million phones in the third quarter of 2014, according to International Data Corp (IDC).
Xiaomi claims sales of more than 61 million smartphones last year, up 227 per cent from 2013, with turnover more than doubling to USD 12 billion.
But critics say the firm has simply copied the look of Apple's iPhones, thriving because of weak intellectual property protection in China.
Xiaomi, which takes its name from the Chinese word for millet, has excelled in China's cut-throat smartphone market by delivering high-performance products at cheap prices.
In less than five years, the Chinese company has become the world's number three smartphone vendor, behind only Apple and South Korea's Samsung, shipping 17.3 million phones in the third quarter of 2014, according to International Data Corp (IDC).
Xiaomi claims sales of more than 61 million smartphones last year, up 227 per cent from 2013, with turnover more than doubling to USD 12 billion.
But critics say the firm has simply copied the look of Apple's iPhones, thriving because of weak intellectual property protection in China.
Source: Gadget Reviews India and view more Automotive News
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