In software, if a company is growing fast enough, all else is forgiven.
Xiaomi has extended this principle to hardware. The company raised its last round of capital at a reported $40bn valuation, on the back of becoming the biggest smartphone vendor in China.
On Monday, Gartner released its quarterly smartphone market report. It did nothing to dilute the Xiaomi growth frisson. The company has more than 5 per cent of the global market, putting it in fourth place between Huawei and Lenovo. Its 16m units shipped in the quarter was 12m more than last year; only Apple came close, with 8m units added.
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