Oh dear, Xiaomi: '$46bn' winner's phone shipments tumble 38%

Apple drops too, as Chinese shun tiddlers

Only nine months ago China's Xiaomi was being touted as "the next Samsung" - a consumer electronics giant with the breadth and ambition to create platforms or "ecosystems". The markets valued Xiaomi at an astronomical $46bn, bigger than Oracle or Coca Cola, and twice the valuation of BAE. But this year, Xiaomi forgot to do something quite basic: sell enough phones."