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Xiaomi is the fourth largest smartphone maker in the world behind Samsung, Apple, and Lenovo. It was founded in 2010 in Beijing, China as a software company but began producing smartphones in 2011. Since then, it has experienced rapid growth, selling over 18 million phones in 2013. Xiaomi follows a low-cost business model by keeping bills of material low through an online-only sales model with minimal advertising and physical stores. This allows it to price phones competitively compared to Samsung and Apple despite similar or higher specifications.
















