Apart from reporting a record profit for the second quarter during its earnings release yesterday -- snapping up market share left by embattled Huawei -- Chinese smartphone maker Xiaomi also made a few key announcements, including stepping away from the “Mi” branding. Sanyam Chaurasia, Research Analyst (Mobility), Canalys shares more about the appeal of Xiaomi over Apple and Samsung today and other factors that would have contributed to their rapid growth.

<p>Apart from reporting a record profit for the second quarter during its earnings release yesterday -- snapping up market share left by embattled Huawei -- Chinese smartphone maker Xiaomi also made a few key announcements, including stepping away from the &ldquo;Mi&rdquo; branding. <strong>Sanyam Chaurasia, Research Analyst (Mobility), Canalys&nbsp;</strong>shares more about the appeal of Xiaomi over Apple and Samsung today and other factors that would have contributed to their rapid growth.</p>

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