Xiaomi misses 2015 target as competition bites

Xiaomi's smartphone Mi 4i are displayed in Taipei, Taiwan, May 7, 2015. REUTERS/Pichi Chuang/Files

Smartphone maker Xiaomi Inc said on Friday it had shipped more than 70 million handsets in 2015, undershooting its own target and casting doubts about the growth prospects of China’s most valuable tech startup in a cut-throat market.

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