BANGALORE: Determining which customer to target first is one of the most critical decisions for the Smartphone makers. But one company that has pulled off the strings easily is four-year-old Chinese smartphone manufacturer, Xiaomi which is now close to meeting its target of selling 60 million phones in 2014, as reported by Harvard Business Review.

Xiaomi, the Chinese smartphone manufacturer, that’s rather making some head turner devices, has just found such a sweet spot in the Smartphone market and as a result it is taking the smartphone industry by a storm. Even though there is lot of claims from the experts that Xiaomi is just a Chinese copycat of Apple, and not without some reason. But some point out that the Xiaomi’s business model, product introductions, and performance of the phones rank among the best and this cues make us to believe that it is competing head to head with the country’s leading Smartphone makers.

However, looking at the full extent of Xiaomi’s products, the company should be lauded for many reasons because its sells high-quality cell phones at a lowest price, which is no joke, in this cut throat competitive market. Unlike Apple, Xiaomi is also not targeting premium customers and it’s mostly targeting teens who are interested to buy these high-quality phones, and hardly at a premium.

On an average, it is said that the new version of a phone is launched every 265 days in the industry – down from 345 days in 2009. But Xiaomi doesn’t renew its product for two years nor does it charge high prices to cover the high cost of state-of-the-art components. Xiaomi prices the phone just a little higher than the total cost of all its components and when the component costs drop over the two-year period by more than 90 percent, Xiaomi maintains its original price, and pockets the difference.

So far from being called a copycat, Xiaomi is close to meeting its target of selling 60 million phones in 2014 and also giving disruptive challenge to the largest smartphone manufacturers. As it continues to expand in developing economies by marketing to the emerging middle class, sooner rather than later, Xiaomi is said to continue its business strategy and model along with how this industry works.

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