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Xiaomi marks 6th anniversary with blockbuster Mi Festival

Chinese handset maker Xiaomi on Wednesday celebrated its six years of existence in the market with a blockbuster Mi Festival in India.

Founded on April 6, 2010, Xiaomi is already regarded as the 'Apple' of China where it surpassed the US tech giant's holding in the market. Valued at about USD 20 billion, Xiaomi is today just behind Apple and Samsung worldwide in the smartphone business.

It made its entry into the Indian smartphone market with the Redmi 1s in 2014 which was an instant hit. The Redmi 1s is today seen as a pioneer in low budget smartphone market in the country.

Celebrating its 6th anniversary, Xiaomi on Wednesday held the Mi Festival in India exclusively on Mi.com to an epic success. All the top deals including Mi 5, Redmi Note 3 and Mi Power Bank went out of stock during the flash sales.

The Xiaomi Mi 5, the company's latest device starting selling via flash sale at 11:00 am on Mi.Com and was sold out within a short time. Rated at Rs 24,999, the Mi 5 sports 5.15-inch full HD display and is driven by the latest Snapdragon 820 processor with a 3000 mAh battery. It supports Android 6 and has a 16 megapixel rear camera with four-axis OIS.

Redmi Note 3 and the 20,000 mAh Mi Power Bank also went out of stock in the next two flash sales at 2:00 pm and 5:00 pm.

While the Redmi Note 3 has been valued at Rs 9,999, the Mi Power Bank cost Rs 1,699 only. All the three major deals of the Mi Festival were confirmed out of stock at the end of the 3rd flash sale which started at 5:00 pm.