Lei Jun, founder and CEO of China's mobile company Xiaomi, speaks at a launch ceremony of Xiaomi Phone 4, in Beijing, July 22, 2014. China's Xiaomi unveiled on Tuesday its new flagship Mi 4 smartphone, aimed squarely at the premium handset market dominated by Apple Inc and Samsung Electronics Co Ltd. REUTERS/Jason Lee (CHINA - Tags: BUSINESS TELECOMS SCIENCE TECHNOLOGY LOGO) - RTR3ZN52

Xiaomi is openly facing increased competition as it missed its 2015 target of selling 80 million phones. The 70 million devices they did sell is a clear miss from their earlier more optimistic 80-100 million devices target. The Chinese company that fashions itself as the Apple of China is now planning new stores in hopes of doubling their offline smartphone sales.

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