Xiaomi founder Lei Jun quoted in the Financial Times, which described the tech firm as having gone from unicorn to “unicorpse” to Chinese phoenix. Xiaomi reported a 59% surge in shipments to 21 million smartphones in the second quarter and earlier this week released a $720 phone designed to go head-to-head with Apple’s $1,000 iPhone 8. For more on its diversification, see WiC378.
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