India's smartphone market: Samsung dominates it, Apple has had measured success with it and now the firm known as "China's Apple" wants a crack at it too.
Xiaomi last week unveiled its flagship Mi phone and said it plans to invest heavily in India, where analysts say the Chinese firm has an advantage with its low-cost but sleek smartphones.
Xiaomi's success partly comes from the affordability of its phones and analysts says this puts it in a strong position against its rivals in the Indian market given that fancy handsets are unaffordable to most Indian consumers.
"Apple iPhones are very expensive and out of reach of more than 90 percent of Indian consumers.
Having said that, Apple still has potential and aspiring brand-savvy urban consumers to target," said Neil Shah, research director, devices and ecosystems at Counterpoint Technology Market Research.
"Xiaomi on the other hand is offering semi-premium hardware at a very low price and at the same time building content, apps and services ecosystem to lock-in users," he added. "So barriers to acquire tens of millions of consumers are pretty low for Xiaomi compared to Apple."
Xiaomi's new smartphone, the Mi 3, is priced at 13,999 rupees ($230) and analysts say its features are comparable to the likes of the Samsung Galaxy S4, which starts at roughly 28,000 rupees.
It's no surprise that global smartphone firms have their sights on India – it's the world's second-biggest mobile phone market behind China and the world's third-largest smartphone market in terms of sales volumes.