China`s Xiaomi, the world`s fourth-largest smartphone maker, launched a smartphone on Sunday that will be able to take advantage of new and faster 5G mobile networks.

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Donovan Sung, Xiaomi`s global head of products, said the phone would come to market "very soon".

Samsung, which leads the market ahead of Huawei and Apple, launched a 5G phone on Wednesday which it said would be available in early summer.