Xiaomi Corp. is often regarded as the premium smartphone manufacturer in China, operating on levels similar to what Apple Inc. (NASDAQ:AAPL) does in America. In other words, its China’s local version of Apple. Having a reputation of being the third largest smartphone distributor to support it, it’s no surprise the company is starting to move inroads in foreign markets.
Having already penetrated into the Indian market, by providing more value for money smartphones than the existing competitors in the market such as Micromax, the next step for the Beijing-based company is to test the waters in the US, UK, France, and Germany, since it opened its online store Mi.com in these countries.
Although primarily famous as a company that produces smartphones, Xiaomi will be offering four products for what it calls its, “test beta sale”. Products that currently going up for sale include a $14.99 fitness tracker called the Mi Band, which is compatible with both Android and iOS running smartphones, and a pair of headphones which cost a handsome sum of $79.99.
Along with these are two variants of power banks; a 5000mAh model priced at $9.99, which is capable of charging an iPhone 5s twice over, and a more beefier 10,500mAh version, that is priced at $13.99. Along with the availability of these products, the company is asking users to create accounts, and has claimed that only a limited quantity of the products will be available.
Xiaomi has not revealed when its smartphones will grace these markets. However, one is quick to realize the potential legal and patent issues with industry rivals, that they can bring with themselves. Xiaomi is very much aware of the existing industry structure, and it believes the existing popularity of carrier deals in Europe and America has made it difficult for them to break into.
The decision to offer accessories at first is likely to work in favor of the Chinese company, since sales of these products will point out to whether they should take the next step towards expanding and distributing other products, most notably smartphones in these markets.
Xiaomi has been heavily criticized of copying Apple’s designs and this perception isn’t likely to change looking at comparisons of their various phones with the iPhone. However one thing this Chinese company does do is provide phones at almost half the price, when compared to major smartphone manufacturing companies like Apple Inc. and Samsung Electronics Co. Ltd (NASDAQ:SSNLF). This is likely to attract an audience for its products, making the launch of Xiaomi smartphones almost inevitable.
The company is currently valued at $45 million, with projections indicating it is likely to ship 100 million smartphones this year.
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