Xiaomi launches Mi MIX 2 with full-screen display

Technology giant Xiaomi on Monday launched 'Mi MIX 2', an upgrade from last year's Mi MIX, which will be available in China from September 15. 'Mi MIX 2' comes with 6GB RAM in three versions -- 64GB, 128GB and 256GB -- with full-screen display.

"Mi MIX gave everyone a glimpse of what the phone of the future would look like. It has pioneered the trend of full-screen display smartphones. With Mi MIX 2, the future is now here," said Lei Jun, CEO and Co-founder, Xiaomi, in a statement.

The company also announced Mi MIX 2 Special Edition which has a ceramic unibody and comes with 8GB RAM and 128GB storage.

'Mi MIX 2' features a 5.99-inch screen with 18:9 full-screen display for more viewing space and a better immersive experience.

Powered by Qualcomm Snapdragon 835 processor, the device sports 12MP camera with Sony IMX386 sensor.

Three sources with knowledge of the discussions said the two state-owned firms have been in negotiations for months, though any agreement could still be some time away.

The talks between two of China's largest metals producers are part of Beijing's broad efforts to shake up its indebted and inefficient state sector, streamline the number of companies and create globally competitive firms in sectors including power generation, shipping and metals.

Minmetals, which controls Hong Kong-listed unit MMG, said it was not aware of any discussions over a tie-up and said it would publish any statement on its website. China National Gold - one of the top gold miners in a country that has become the world's largest producer - declined to comment.

The State Assets and Supervision Administration Commission (SASAC), which oversees the sector and favours an overall shake-up, did not respond to a request for comment.

A combination of Minmetals, one of China's biggest state-owned enterprises, and much smaller, precious metals-focused CNG would not be without challenges, not least in terms of scale. It was not immediately clear how a combined group would be managed.

China Minmetals, already a major mining company, became the world's largest metallurgical construction and operation services company after merging with state-owned China Metallurgical Group in 2015.

With total assets of around $236 billion globally, Minmetals became one of the world's largest copper miners when it bought Australia's Oz Minerals in 2009 and Glencore's Las Bambas copper mine in Peru for $7 billion in 2014 - one of China's largest overseas acquisitions at the time.

Debt racked up as a result of the Peru deal, combined with plunging global commodities prices then dragged Minmetals to a loss. It reported an 18.2 billion yuan ($2.7 billion) loss in 2015. That turned around to a 4.1 billion yuan profit in 2016.

It signed an exploration deal with Rio Tinto last month, and employs over 240,000 people.

China National Gold is a much smaller company, with combined total assets of around $9 billion from its two listed entities. It is China's only gold industry firm directly managed by the central government, with operations also in silver, copper and molybdenum.

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