Xiaomi to Double Sales as Low-Cost Phones Chase Apple
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Xiaomi Corp., the three-year-old Chinese smartphone vendor, will double handset sales this year as it tries to gain ground on Apple Inc. and Samsung Electronics Co. in the world’s biggest market.
The Beijing-based company will sell 15 million handsets this year, Chief Executive Officer Lei Jun told reporters yesterday in Chengdu, where he’s attending the Fortune Global Forum. Lei is a co-founder of Xiaomi and also chairman of software developer Kingsoft Corp.