Xiaomi executive sees no current tech that would force the company to offer a phone for over $699

In this age of $1,000 flagship phones, at least one manufacturer vows to keep selling high-end handsets at a more affordable price. If you're a smartphone fanatic (or read the headline to this story first), you probably know that we are talking about Chinese manufacturer Xiaomi. The company released its first phone in 2011, and is now the fourth largest smartphone manufacturer in the world according to Q2 data from IDC.

The company is known for selling well-spec'd handsets at affordable prices, especially in India where it took the world's second largest smartphone ...

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