Knockoff phones see shrinking future

Xiaomi Corp, one of the fastest growing tech companies in China, was seen as a copycat when it was founded in 2010, with critics saying it copied the feel and looks of Apple Inc's iPhone.

Now the Beijing-based smartphone maker has proven its success by not only becoming the No 1 vendor in terms of shipments in China in the fourth quarter of 2014, but also by becoming the target of those copycats.

According to a report released earlier this year, three out of the 10 most copied smartphone models in 2014 were from Xiaomi, with its Redmi Note being in the top slot.