‘China’s Steve Jobs’ Is Building A Company That Walks And Talks Like...

‘China’s Steve Jobs’ Is Building A Company That Walks And Talks Like Apple, And He’s Profiting Wildly

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Business Insider –

* Xiaomi’s Lei Jun dismisses notion of copying Apple

* Xiaomi sees $2 bln revenue in 2012 on 7 million smartphone sales

* Xiaomi not considering IPO in next 5 years

* Analysts say Xiaomi faces tough road to a becoming a big brand

BEIJING, Dec 7 (Reuters) – China’s Xiaomi Technology is a fairy tale for nerdy entrepreneurs.

Less than three years after its founding, the smartphone maker is valued at $4 billion and evokes Apple-like adoration from its fans, some of whom are desperate enough to skip work for a shot at buying the latest product the day it goes on sale.

Founder Lei Jun dresses like the late Steve Jobs, in jeans and a black top. He has created a fervent fan base for Xiaomi’s moderately priced high-end smartphones by mimicking Apple Inc’s marketing tactic of attaching an aura of exclusivity around its products.

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