My prediction: Xiaomi is only two years away from a serious entrance into the North American or European market and that entrance will be very disruptive for the existing market players, just like it has been in other markets that Xiaomi has entered.
Xiaomi can't really enter western markets until its designs are more original, otherwise they would be sued out of existence. It will be interesting to see if and how they manage that transition.
Also, Xiaomi is not a very good value. Meizi provides better quality for a similar price if you are into the low end.