Apple sales dip in China filled by local rival Xiaomi 

Signs of an end to China’s smartphone downturn

A Xiaomi product launch in May. Xiaomi has gained about $20bn (€18.7bn) in market value since a June low on excitement over its latest handset as well as forays into electric vehicles and other businesses.

Apple’s sales dip in China is providing an opportunity for yet another local Android smartphone maker to win favour with customers and investors.

Xiaomi has gained about $20bn (€18.7bn) in market value since a June low on excitement over its latest handset as well as forays into electric vehicles and other businesses. The Hong Kong-listed stock rose over 60% in that span, making it the best performer on the Hang Seng Tech Index.