Xiaomi prepares for peak sales period with its new smartphone

Xiaomi Corp unveiled its latest flagship smartphone on Tuesday ahead of the autumn sales peak, a critical period for the Beijing-based handset vendor to meet its target of shipping 60 million units.

Analysts said that China will remain Xiaomi's major market, although founder and Chief Executive Officer Lei Jun pledged to build Xiaomi into a "well-respected global brand".

The Xiaomi 4 will help the company achieve a new sales record worldwide, according to Lei.