Business Insider –
* Xiaomi’s Lei Jun dismisses notion of copying Apple
* Xiaomi sees $2 bln revenue in
* 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.