Xiaomi reports 55% surge in Q1 revenue

Chinese smartphone maker Xiaomi Corp (1810.HK) reported first-quarter revenue growth of 55% on Wednesday, above analyst expectations, as it nabbed market share from one-time market leader Huawei Technologies Co Ltd (HWT.UL). Revenue rose to 76.88 billion yuan ($12 billion) in the quarter ended March 31, from 49.70 billion yuan a...