Chinese smartphone maker has X-factor

What next for Xiaomi, the Chinese smartphone giant that came from nowhere?

The story so far is remarkable. The company was founded in Beijing in 2010 by entrepreneur Lei Jun, and launched its first handset the following year.

Fast-forward to 2014, and Xiaomi has become the world's third-largest smartphone maker after Samsung and Apple. A round of fund-raising in December resulted in a $45 billion valuation being placed on it, making it the world's most valuable tech startup.