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A four-year-old Chinese tech company has the world's third-largest smartphone maker, behind Samsung and Apple. The company is Xiaomi Inc. It has also become the world's most valuable tech start-up and more valuable than Uber, Dropbox, Pinterest and Snapchat. The Beijing-based company just $1.1 billion in funding and now worth $45 billion. That it worth more than tech giants LG, Motorola and Sony together. Xiaomi is also the world's fastest-growing smartphone maker. Its sales by 211 per cent in 2014. Its market share has also from 2 per cent to 5 per cent over the past year and it like that will increase further.

Xiaomi a unique business model. It its phones for around what they to make. Profits from apps and software. It also makes its customers follow the company. Many Xiaomi users in China are very loyal fans of the company. The company marketing campaigns that fans the chance to win prizes. This makes the company very popular. Bin Lin, Xiaomi co-founder and president, said: "We will to continue innovation to everyone, with a goal of high-quality, high-performance devices with great user experience." However, not everyone is a fan of Xiaomi. Apple's chief designer Jonathan Ive said Xiaomi the design of its phone and many ideas from Apple.