8 Chinese industries taking on global players

No 5 Inexpensive smartphones

Although Apple and Samsung are still popular around the world, China's domestic smartphone brands are making major inroads.

While having more or less same features as high-end phones, Chinese smartphone brands, such as Xiaomi, Huawei, ZTE and Lenovo, have the price advantage. One of the major success stories is the smartphone brand Xiaomi. It is now a big player in the Indian market, and also has offices in Brazil and Southeast Asian countries.

Lei Jun, founder and chief executive officer of China's mobile company Xiaomi, demonstrates the features of the new Xiaomi Phone 4 at its launch ceremony in Beijing, July 22, 2014.[Photo/CFP]