China's Xiaomi misses 2015 handset shipment target as competition bites

BEIJING/HONG KONG (Reuters) - Smartphone maker Xiaomi Inc [XTC.UL] said on Friday it had shipped more than 70 million handsets in 2015, undershooting its own target and casting doubts about the growth prospects of China's most valuable tech startup in a cut-throat market. The figure was announced in a photo featuring Xiaomi President Lin Bin which was posted on the company's microblog with the banner: "2015 Xiaomi cellphone shipments: Over 70 million!" Xiaomi had estimated total annual sales of