China’s smartphone champion has triumphed where Apple failed

Ever since he co-founded Xiaomi in 2010, Lei Jun, the chief executive of the Chinese tech giant, has pulled off feat after feat of salesmanship. A decade ago he earned a Guinness World Record for selling 2.1m smartphones online in 24 hours. These days, though, he is not just flogging cheap phones. Last month Xiaomi sold more than 200,000 of its first electric SUV, the YU7, within three minutes of bringing it onto the market.