Xiaomi Success Inspires Every Man And His Dog To Make Smartphones In China

[Ron Burgundy]

By Yimou Lee and Paul Carsten HONG KONG/BEIJING (Reuters) - The call of the world's biggest smartphone market is proving irresistible for entrepreneurs in China, where even purveyors of concrete mixers, refrigerators and rock music are mimicking local trailblazer Xiaomi Inc [XTC.UL] with their own handsets. In a crowded market plagued by price wars, entrants will have to convince buyers to abandon established brands with phones that surpass even premium models, U.S. research firm Gartner said. "It's not that easy to go bankrupt making phones, but it's also not easy to be profitable," said Taiwan-based Gartner analyst CK Lu, who covers the mainland smartphone market.

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