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   based      chance      design      designer      experience      founder      giants      innovative      loyal      maker      popular      profit      share      success      tech      together      unique      valuable      world's      worth  
A four-year-old company from China has become the third-largest smartphone maker and the world's most tech start-up. The company is called Xiaomi Inc. The Beijing- company just raised $1.1 billion. It is $45 billion, more than tech LG, Motorola and Sony put . Xiaomi is also the world's fastest-growing smartphone . Its sales went up by 211 per cent in 2014. Its market also rose from 2 per cent to 5 per cent over the past year. It looks like this will continue in the future.

Xiaomi has a business model. It sells its phones for what they cost to make. Its comes from apps and software. Many Xiaomi users in China are very fans. The company uses competitions to give fans the to win prizes. This makes it very . Bin Lin, Xiaomi co-, said he wants to continue to be and make "high-quality, high-performance devices with great user ". However, not everyone likes Xiaomi. Apple's top Jonathan Ive said Xiaomi stole the of its iPhone and many ideas from Apple.

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