Haidian, top hardware at core of Xiaomi phones

Starting with seven co-founders, Xiaomi Corp has taken less than two years to become one of the best-known smartphone companies in China. It now has some 1,500 employees in Beijing.

"The fundamental reason for our fast growth is that we offer products that are beyond customer expectations," said Li Wanqiang, vice-president and one of the founders of the company.

With advanced hardware at a low price, Xiaomi smartphones have gained a broader group of customers, although its original target group is IT geeks who obsessed with the sheer performance of the handset.