Last year a Chinese manufacturer introduced a powerful smart phone at one of the lowest retail prices ever known to the outside world. Now after a year “Xiaomi” has taken the Chinese smart phone market by storm and giving big names like Samsung, Iphone and HTC a tough competition. The latest release- Xioami Mi 2 boasts specs that are on par with the latest smart phones like Samsung Galaxy S3, Iphone 5, HTC One X and Google Nexus 4.You can take your pick among three smart phones in the MI series.  Currently its portfolio includes the Mi-1 at around ¥1,300 ($208), the Mi-1s at ¥1,500 yuan ($321). The Mi-2 is already available at a price of ¥1999 ($240) that is 60 percent cheaper than that of an unlocked iPhone 4S 16GB. It’s a dream of all those western budget smartphone owners. Continue reading →