China's "millet" phone maker hits nearly $1 billion in H1 sales

SHANGHAI (Reuters) - Chinese smartphone maker Xiaomi Technology said it racked up 6.1 billion yuan ($955 million) in revenue in the first half of this year with sales of more than 3 million devices, tapping rapid growth that is fostering domestic brands and is set to make China the world's biggest smartphone market this year. Xiaomi, which means "millet" and was inspired by a revolutionary phrase of the early Chinese Communist Party, began selling high-end smartphones last October with specifications rivaling those of big global players, but at a relatively low price. ...

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