Xiaomi had a mixed quarter in Q1 2017. Despite global smartphone shipment posting -14% YoY decline, the vendor ranked the 7th position in global smartphone market. China continued remaining weak due to channel shift and hyper competition, while India recorded an impressive growth and solidified the second position this quarter. However, we don’t expect Xiaomi’s growth in India will offset its fall in China. Xiaomi is still under downturn trajectory this year.
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