This was also confirmed by its founder Xiaomi on Weibo, which is the microblogging service of China. Xiamoi clinched the top smartphone maker spot in China leaving Samsung and Apple behind. And with this valuation of $45 billion, Xiaomi is now valued more than the much popular brands like Nokia and Sony and is currently equal the market value of Yahoo.
Xiaomi was founded in 2010 and has been producing cheap high quality smartphones and uses a clever online marketing technique to make enormous sales.
According to research firm IDC, around 500 million smartphones will be sold in China during the year 2015 which is three times more than those sold in the United States.
Xiaomi is considering expansion into markets like India but it is vulnerable at the moment because it does not have its own patent portfolio. Recently Xiaomi sales were stopped in China over a patent complaint filed by Swedish smartphone maker Ericsson.