What happened: Smartphone maker Xiaomi unveiled the MIX 3—it’s most expensive and advanced model so far. With a starting price at RMB 3,299, the new device will go head-to-head with the older iPhone X and Huawei’s P20. The MIX 3 will go on sale in November.
Xiaomi also announced that it expects smartphone shipments to hit 100 million marks by the end of October— two months ahead of its estimates.
Why it’s important: Xiaomi is putting itself against other premium phone makers like Apple, Huawei, and Samsung. With the new MIX 3, the smartphone maker has a better chance at increasing its presence in Europe and the US—the biggest premium phone markets. Xiaomi has been putting more focus on overseas markets post IPO.