Lei Jun, founder and CEO of China's mobile company Xiaomi, shows new features at launch ceremony of Xiaomi Phone 4 in Beijing
Lei Jun, founder and CEO of China's mobile company Xiaomi, shows the new features 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

The competition has always involved Android versus Apple or Apple versus Samsung but new players like Xiaomi is changing the paradigm. Xiaomi continues to challenge Samsung's Android position with new products like Mi4 and Redmi Note while Apple has started noticing the Chinese tech giant. How will the competition go? Can Redmi be at par with the Galaxy Note 4 and even competing with the iPhone 6? Will Samsung lose ground?

Forecasts continue to come true as Samsung fails to deliver the expected third-quarter profit. According to the Wall Street Journal, Samsung continues to suffer a slump as a result pressure from Chinese vendors. The Korean tech giant has been banking on its mobile phone sales up to as much as 60% of overall profits. The recent decline in sales has concerned investors with some selling off shares. Stocks declined up to 15% for 2014 so far.

Samsung's recent performance has prompted analysts to think twice about the competition between Samsung and Apple. According to Techno Buffalo, Samsung and Apple's rivalry may finally be cooling down with Xiaomi now dubbed as "China's Apple." The Chinese tech giant has been called out for copying the presentation style and industrial design known about Apple. Jony Ive, Apple's design chief, has some words for Xiaomi and their business conduct. Ive spoke during the Vanity Fair Tech: "I'll stand a little bit harsh; I don't see it as flattery. When you're doing something for the first time, you don't know it's gonna work, you spend 7 or 8 years working on something, and then it's copied."

"I think it is really straightforward. It is theft and it is lazy. I don't think it is OK at all." The Apple official added.

To prove Xiaomi's continuing success, the company sold out 100,000 units of Redmi 1s within minutes of putting up it for a flash sale on Flipkart. Redmi Note 2 specs were also leaked through Weibo according to Vrzone. The back panel photos indicate that the phone may measure around 159 x 82 mm. Other reported specs include 5.5-inch display, 26GB RAM, a 64-bit Snapdragon 615 SoC and 13MP camera.

The final verdict will come following the release of the device as Apple and Samsung remain fighting in the high end sector with the iPhone 6 and the Galaxy Note 4. Galaxy Note features quad HD AMOLED display offering 2560 x 1440 pixels. The iPhone 6 Plus lags a bit behind with the retina HD LCD display offering 1920 x 1080 pixels though experts note it is not as exhausting as AMOLED displays. The Galaxy Note 4 runs on 2.7 GHz quad-core Qualcomm Snapdragon 805 processor while the iPhone 6 Plus runs on 1.4 GHz dual-core A8 processor.