Video: Mark Boyer, Rill Causey, Noah Throop
In China, Xiaomi is a titan, second only to China's other giant Huawei. People go crazy for new Xiaomi phones the way fans go crazy for new iPhones.
The company's latest flagship, the Mi 5, racked up 16.5 million pre-orders in the few weeks since its unveiling in late February
What's Xiaomi's secret to success? There's no secret sauce, really. They just sell high-quality phones at ultra-low prices.
See also: The search for the ultimate smartphone camera
Compared to the iPhone 6S and Galaxy S7, which start at $650 and $700, respectively, the Mi 5 starts at only about $305. Read more...
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