Xiaomi Mi 5 is an incredible Chinese phone with an unbeatable price

In China, Xiaomi is a titan, second only to China's other giant Huawei. People go crazy for new Xiaomi phones the way fans go crazy for new iPhones.

The company's latest flagship, the Mi 5, racked up 16.5 million pre-orders in the few weeks since its unveiling in late February

What's Xiaomi's secret to success? There's no secret sauce, really. They just sell high-quality phones at ultra-low prices.

Compared to the iPhone 6S and Galaxy S7, which start at $650 and $700, respectively, the Mi 5 starts at only about $305. Read more...