Eyeing $4.5B In Sales This Year, Phone Maker Xiaomi Looks To Emulate A 340-Year-Old Chinese Medicine Company

Whom do the idols idolize? Lei Jun, the CEO of Android handset and OS maker Xiaomi, is arguably the face of tech entrepreneurship in China as a long-time angel investor and serial entrepreneur behind companies like Amazon-acquired Joyo.cn and the recently IPO'd YY. He's been called the "Steve Jobs of China" in the sense that Xiaomi is an integrated hardware and software maker that has altered Android for Chinese tastes. They sell high-end Android phones at or slightly above the cost of materials and profit through accessories and eventually, software and services. While the country has been known for lower-end hardware makers, Xiaomi is pushing the idea that world-class products can be both made and designed in China.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/bHadBcQyUDc/

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