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Xiaomi leads low-cost smartphone drive

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Xiaomi may be little known outside China, but the fast-growing smartphone maker is at the forefront of a new wave of Asian brands challenging the dominance of Apple and Samsung with high-spec, low-price phones. 

Hugo Barra, Xiaomi's global vice-president, speaks at the Startup Asia technology conference in Singapore, May 8, 2014

In the three months to March, Xiaomi surpassed Apple and other established Asian players such as Huawei and Sony to become the third largest smartphone brand in China by market share, research firm Counterpoint Technology said.

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