China’s Xiaomi Mi3 Phone Sold Thousands In Seconds (PHOTOS)

Samsung and Apple may be giants in some parts of the world but do they hold a candle in sales to Xiaomi, their Chinese counterpart?

Don’t worry, we were clueless about Xiaomi, too, but after the company sold 100,000 units of their MI3 smartphone and MITV in one minute and 26 seconds via the Chinese version of Twitter, it got our attention.

According to Mashable, Xiaomi is known for selling their devices in batches on Weibo, and previous sales have been just as successful. Last August, the company sold out 100,000 units of its new budget Hongmi line in about 90 seconds.
The Xiaomi Mi3 and MITV were both formally unveiled on Sept. 5 at a news conference in Beijing. The company sold 7 million devices and raked in $2.5 billion in revenue during the first half of 2013 and is estimated to be worth roughly $10 billion.

The Xiaomi Mi3 is a sleek looking Android phone which features a Tegra 4 quad-core CPU, a  5-inch full-HD screen and a 13 megapixel rear facing camera. It sells for 1,999 yuan (US$327).  Since it was first introduced by Xiaomi CEO Lei Jun on September 5, Mi3 has been considered the model with the highest capacity-price ratio in the market and people are eating it up. Full specs here.