Xiaomi Mi4 vs. Asus Zenfone 4 Price And Specs Comparison
Lei Jun, founder and CEO of China's mobile company Xiaomi, speaks at a launch ceremony of Xiaomi Phone 4, in Beijing, July 22, 2014. China's Xiaomi unveiled on Tuesday its new flagship Mi 4 smartphone, aimed squarely at the premium handset market dominated by Apple Inc and Samsung Electronics Co Ltd. Reuters/Jason Lee

Xiaomi the Chinese company that makes smartphones at rock bottom prices disclosed on October 15 that 16 million Xiaomi phones were shipped in the second quarter of this year. Considered as the "Apple of the East" according to the New York Times, this company has been making huge profits with the sales of its handsets. Xiaomi is just three and a half year old with 2,400 employees. The company managed to sell over 7 million devices in 2012. This is indeed a rapid growth for this young company.

Xiaomi stands out from other smartphone manufacturing companies by selling their high end smartphones at a very low price and no profit margins. This strategy has worked very well for the company. This is the same strategy employed by other Chinese companies, but what sets Xiaomi apart is that they do not offer low end cheap handsets. In an interview with the New York Times, Chief Executive Officer and co-founder of the company Lei Jun stated that the Xiaomi is not some cheap Chinese company making cheap phones, but it is going to be a Fortune 500 company.

Jun earlier this month stated that the shipments of the Xiaomi phones in the third quarter of this year saw an increase by 20 percent quarter over quarter. Asia has been the main focus of Xiaomi's sales strategy which recently was the cause to overthrow Samsungs supremacy as the number one smartphone seller in China. The company also hired Hugo Barra from Google in 2013.The CEO of Xiaomi and Barra nurture ambitions like Steve Jobs.

The company made $5 billion in sales from 26.11 million phones in the first two months of this year. Xiaomi shipped a total of over 45 million phones in the first three quarters of this year. In the June of 2014 Xiaomi shipped a total of 52.3 million phones according to the company. Their goal is to sell around 60 million handsets this year. In an interview with NIKKEI the co-founder of Xiaomi Lin Bin stated that the company's goal for 2015 is sales of 100 million handsets.