In 2014, Xiaomi, a Chinese maker of inexpensive devices, sold more than 61 million devices, making it the third equipment vendor worldwide, behind Samsung and Apple. In January, the company reached a market value of US$ 45 billion, following a financing round in which it had managed to collect US$ 1.1 billion. Its Global VP, Hugo Barra, tried to explain this sudden event and keys in brand building, during the panel on Content Evolution of the Mobile World Congress (MWC).