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Beijing-based Xiaomi is fast emerging as the Apple rival to watch
Beijing-based Xiaomi is fast emerging as the Apple rival to watch

It wasn't long ago that everybody wondered whether Apple Inc. could effectively compete against a tough bunch of homegrown smartphone makers in China. Then came the company's blowout earnings report this week, which included a stunning 70% year-over-year increase in its China region revenue, driven by its new iPhones. That answered the question in the affirmative — but it doesn't mean Apple can breathe easy. Chinese smartphone makers are growing fast, led by an aggressive company hardly anyone in the U.S. had heard of until recently: Xiaomi. Based in Beijing, Xiaomi is fast emerging as the Apple rival to watch — not just in China, but around the world. Last...

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