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

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