Xiaomi's phone is less than half the price of Apple Inc.’s top-of-the-line model.

Xiaomi's new device with dual cameras and a pressure-sensitive screen that’s less than half the price of Apple Inc.’s top-of-the-line model. With the 5.7-inch Mi 5S Plus, Xiaomi, once known as a purveyor of inexpensive but innovative phones, is taking aim at fans of premium devices.

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