Counterclockwise: Xiaomi shows $300 is all a flagship needs to cost

Xiaomi is one of the youngest smartphone companies, but its rise has been astounding. It was founded in 2010, released its first phone in 2011 and in 2014 it was already the top maker in China. The first product the company made was MIUI ("Me You I"), a custom skin built on top of Android 2.2 Froyo. It was made available as a ROM to be installed on various phones, but the focus quickly changed to building in-house hardware. It all began with the Xiaomi Mi 1. Offered at CNY 2,000 ($290/€250), it reached 300,000 pre-orders in 34 hours. Xiaomi soon partnered with China Unicom to offer a...

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