This Story Tells You Everything You Need To Know About The Hottest Tech Startup In China Right Now

Xiaomi, for those who don't know, is one of the hottest smartphone companies in China right now. It's the number one smartphone maker in China. It's a private company that's reportedly raising funding at a $50 billion valuation.

We knew it was a successful company, but one story from the conference illustrated how crazy hot the company is right now.

A person familiar with the company told us it is selling about four million units of its 10,400 mAh Power Bank each month. On the record, Xiaomi tells us it's been selling more than one million units per month, and that the company has sold 10 million of its 10,400 Power Bank to date since it launched one year ago.

That number sounds pretty low compared to the company's smartphone sales - in 1H14 it sold 26.11 million phones - but remember, it's just an external battery!

Xiaomi's $20 battery pack saw incredible success before it even launched, too. The company recieved 10,000 preorders in a single day via India-based online retailer Flipkart, according to a report from BGR India.

So why is the 10,400 mAh Power Bank so insanely popular? We're not really sure, but reviews of the device have been pretty positive so far. Gizmodo Australia described it as "ridiculously powerful," and Hardware Zone praised it for being so light and compact for such a high capacity charger.

The battery pack is also very cheap for it's size when compared to competitors. The Sanho HyperJuice Plug, for instance, sells for $99, while the Aluratek Dual USB 10400 costs $52.

But, the real reason it's successful is because it's Xiaomi. The company has tapped into something huge in China. Another person at the conference said Xiaomi is a brilliant marketing company that has figured out how to get consumers excited.