I find the "Chinese Apple" to be a curious desire. Which characteristics do we choose from the two? "high quality devices for low prices", is very chinese, but Apple is known for high quality prices based on innovative technology.

If he wants to build a company that makes high quality products based on innovative technology at low prices, then he could find great success.

Alas, in my experience, no companies besides Apple are actually interested in consistently producing innovative products.

This "Mi" site is full of derivative devices using off the shelf technology (android, for instance) in moderately nicely designed plastic cases.