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China's Xiaomi announces 10 million Mi-2 smartphone sales in under a year

Budget Chinese smartphone maker Xiaomi has announced the sale of 10 million units of its flagship smartphone, the Mi-2 and variants, the Mi-2S and Mi-2A, in 11 months.

It may not be quite as big of an achievement as Apple's nine million iPhone 5S and 5C sales in just three days, but considering Xiaomi only launched its first device in 2011, and it pretty much sells in China alone, it is quite a feat.

The smartphone maker also only produces small batches of its devices at a time, which often sell out in less than an hour. When it released its cheapest ever offering, the Red Rice, last month, the initial 100,000 devices sold out in 90 seconds and gained 7 million reservations.

Highlighting the strength of the budget smartphone market in China, and adding to the mystery as to why Apple has not priced the 5C lower, Xiaomi recently pushed Apple into seventh place in the country.

Xiaomi took a five per cent share in Chinese sales in Q2 2013, shipping 4.4 million devices. In the same period, Apple shipped just 4.3 million iPhones, taking a 4.8 per cent market share.

Illustrating the company's rapid rise, Xiaomi's revenue hit $2.15 billion (£1.35 billion) in the first half of 2013, selling 7.03 million devices. Across the whole of 2012, the company sold 7.19 million smartphones.

The Mi-2 is set to be replaced by the Mi-3 in October, after the new device was launched at the start of September.