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Xiaomi’s Amazon Tack to IPhone Fight May Mean 3 Years of Losses

Xiaomi Corp., a Chinese smartphone vendor that counts Singapore’s Temasek Holdings Pte as an investor, is ready to post losses for years as it battles Apple Inc. to attract high-end users to its software.

“We are not looking to make any money, or to make Xiaomi profitable, for the next two or three years,” President Bin Lin said in a Feb. 7 interview in Beijing. “We will be able to look at profitability from software and services after we have the user base.”