Xiaomi Powers Through a Slowdown in China

The Xiaomi mascot Photograph by Brent Lewin/Bloomberg

In just four years, Xiaomi has built a reputation as one of the hottest tech companies around. The Beijing-based smartphone specialist yesterday cemented that status, with a spokesman telling Bloomberg News that Xiaomi’s business soared in the first six months of the year. Shipments totaled 26 million through the end of June, said Tony Wei, compared with 7 million in the same period last year. Sales hit 33 billion yuan ($5.3 billion), up from 13.3 billion yuan.

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