There have been rumors recently that Xiaomi Tech will officially release a customized Android UI called MIUI in late July and an MIUI mobile phone in September.

Founded in April 2010, Xiaomi official website claims  to “focus on the iPhone, Android and other next-generation smart phone software development and trends of mobile Internet business operations.” To many people’s surprise, only 8 months after its launch,Xiaomi Tech raised US$ 35 million at a valuation of US$ 200 million from Morningside Group and Qiming Venture Partners.

The products Xiaomi Tech has released so far include Xiaomi Chat , Xiaomi Reading, Xiaomi Share, Xiaomi Driver and Millet Notes. Rumors say Xiaomi will launch its own MIUI phone M1 in September. M1 will have Qualcomm’s Dual-Core 1.5Ghz CPU and a 480 x 854 LCD screen at a price of about RMB 1,600(US$250).

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