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China tech

China's Xiaomi logs record profit but flags chip crunch risk

Smartphone maker gains as US crackdown hits domestic rival Huawei

Xiaomi has recently claimed the No. 2 position in the global smartphone market and is now aiming for the top.   © Reuters

TAIPEI -- Chinese smartphone maker Xiaomi on Wednesday reported record profit for the April-June quarter as the world's second-largest smartphone maker snapped up market share lost by domestic rival Huawei due to a U.S. crackdown.

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