China's Xiaomi debuts ceramic-body Mi 5 flagship smartphone

By Paul Sandle BARCELONA (Reuters) - China's Xiaomi [XTC.UL] unveiled its flagship Mi 5 smartphone on Wednesday, combining the latest components and an innovative ceramic design with a price at just over $400 that significantly undercuts rivals. Xiaomi, founded less than six years ago, is China's most valuable start-up with a $45 billion price tag and the fifth largest smartphone maker worldwide measured in shipments in the last quarter, according to analyst Gartner. Vice President Hugo Barra sa