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Xiaomi's US$45b valuation in doubt as sales slip

Domestic shipments fell 8% in Q3: research firm
Saturday, November 28, 2015 - 05:50
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MISSED TARGET: In March last year, Xiaomi expected to sell 100 million smartphones in 2015. Through the first nine months of this year, the company shipped about 53 million smartphones.

Taipei

THINGS were going so well for Xiaomi Corp. Customers were lining up, investors were swooning and the Beijing-based startup closed funding at a US$45 billion valuation. That was last year.

Now the high-flying smartphone maker is stumbling. Founder Lei Jun's latest business,