Xiaomi, the fastest growing tech company

Xiaomi, the Chinese based tech company with one of the world's fastest growing rate, is aiming to conquer the global handset industry and it seems to be on the right path.

The company, which is ranked number 6 on a global scale and number 3 in China, after Samsung and Lenovo, has sold, in 2013, 18.7 million smartphones, almost al of which had been bought online.

The first batch of 100,000 Mi3 smartphones to be released was sold out in just 86 seconds.

The Mi3, or any Xiaomi phone, for that matter, make a great deal since they're equipped with high-end components, such as high performance Qualcomm processor or the newest processor from Nvidia.

However, the devices have a more than resoanble price, an Mi3, for example, although offering users similar specifications to those of an iPhone, sells at $270, less than half of the price of an iPhone.

Xiaomi extended its branches, going from smartphones, to tablet that run on Android OS to HDTVs, home routers, phone cases and even plush toy bunnies, which represent the company mascot.

Although their mobile units clearly remind everyone of their better known counterparts from Apple and Samsung, the smartphones are not clones.

The devices run on MIUI, Xiaomi's version of Android, which offers users weekly updates, many of which come from recommendations made by the public.