We're not exactly sure why the Huawei exec specifically took on Xiaomi, but, according to Chinese website Zol, Richard Yu said that the Redmi maker has "no chance" in the high-end segment of the market. He continued by saying that Xiaomi's Mi Note doesn't offer advantages over the Huawei Ascend Mate7, and neither does the Xiaomi Mi4 over the Huawei Honor 6 Plus. It seems that Huawei sees Xiaomi's handsets competing with its mid-range smartphones, not with its premium flagships like the Mate7, Ascend P7, or Honor 6 Plus.
Not long ago, Richard Yu criticized both Xiaomi and Meizu for using Quad HD displays on their latest flagships. However, this doesn't necessarily mean we won't see Huawei smartphones with Quad HD screens in the near future.
Undoubtedly, 2015 is a very interesting year when it comes to smartphone rivalries, and we're looking forward to seeing which companies will manage to be the grand winners at the year's end.
Huawei Mate7, sold in more than 2 million units until now
source: Zol (translated) via GSM Insider