Personally, when a known brand is compared with a new entry or maybe a not very popular brand worldwide as Xiaomi or One, generally the biggest one wins, as it creates a global strategy, not precisely a local or regional one
For example, Asus Zenfone 2 is designed to meet the maximum of attention coming for users willing to buy a not very expensive smartphone, but reliable for current needs as browsing on the internet, taking photos or playing games
Asus Zenfone 2 comes with a bigger display of 5.5-inch, similar to One Plus One, but the ppi is improved, 403, comparing with 401 in the rival`s display
Neither OnePlus One or Xiaomi Mi 4 include 4GB RAM, only 3GB RAM
On the other hand, OnePlus One wins in terms of internal storage, 64GB, comparing with Asus Zenfone`s capacity, 32GB