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China’s smartphone champion has triumphed where Apple failed
Having conquered carmaking, Xiaomi now has its sights set on world domination.
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Xiaomi CEO Lei Jun at the launch of its first electric SUV, the YU7, in Beijing in June.
PHOTO: AFP
The Economist
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Ever since he co-founded Xiaomi in 2010, Mr Lei Jun, chief executive of the Chinese tech giant, has pulled off feat after feat of salesmanship. A decade ago, he earned a Guinness World Record for selling 2.1 million smartphones online in 24 hours.
These days, though, he is not just flogging cheap phones. In June, Xiaomi sold more than 200,000 of its first electric SUV, the YU7, within three minutes of bringing it onto the market.
