Xiaomi pins hopes on smartphone upgrade

Firm makes latest bid to boost presence in mid-end market amid fierce competition

Xiaomi Corp unveiled its largest-ever-screen smartphone and the latest update to its popular Android-based operating system on Tuesday, in a move to win back the market share it is losing to Huawei Technologies Co Ltd in China.

Lei Jun, founder and CEO of Xiaomi, said the Mi Max, equipped with a 6.44-inch screen, is perfect for watching movies and playing games. In comparison, iPhone 6S Plus, Apple Inc's largest-display smartphone, only has a 5.5-inch screen.