China’s Xiaomi takes on Samsung in India

Chinese smartphone maker Xiaomi has launched an aggressive push into India, placing renewed pressure on market leader Samsung amid heightening competition in the country's rapidly expanding mobile-device sector.

Xiaomi’s combination of high-end handsets with bargain-basement prices has proved hugely popular in China, where sales overtook Apple last year. It now vies with Samsung for top spot in the world’s largest smartphone market.

The privately owned group was valued at $10 billion (€7.37bn) during its last fundraising round in 2013, and has attracted attention for its swift growth and unconventional marketing since launching in 2011. However, co-founder Lin Bin said that Xiaomi would now invest heavily in India. – (Copyright The Financial Times Ltd 2014)