Xiaomi finally rolled out its prized Mi 4 smartphone at a plush event in Beijing, and will endeavor to test the mettle of its main rival Apple of the United States.
The Mi 4 which is offered as a budget handset is expected to give stiff challenge to existing smartphones around as it is spruced up with lavish features and comes with a very affordable price.
Samsung Electronics of South Korea earlier quoted that they experienced unsatisfactory delivery of smartphones because of their declining sales in China. To date, China has a whopping 1.27 billion mobile users.
Xiaomi CEO Lei Jun, who is clad in a black t-shirt and blue jeans, recurrently lashed out at chief rival iPhone maker Apple with a presentation last week, as he made epic comparisons between the Chinese budget handset with that of US company’s pricey phone.
Lei claimed that their product is better than the well-established iPhone and he even cracked a joke that their white version is superior to their rival’s white version and their white color is whiter.
Apple, is scheduled to reveal their earnings for the second quarter of the year on Tuesday, but cannot immediately be reached for comments.
The straightforward Lei almost use one hour on stage to explain the construction and internals of Mi 4 phone.
The 5 inch Mi 4, will formally enter the market on July 29 with a price tag of $320. This mobile phone boasts of a generous 1080p screen and a very fast Snapdragon 801 2.5 Ghz processor of Qualcomm Inc. This smartphone is almost half the price of iPhone 5s which is priced at $650.
Counterpoint’s technology consultant and analyst, Neil Shah, quipped that the Mi 4 is expected to be popular soon but it doesn’t pose a real threat to Apple just as yet.
Mi 4 is expected to attract potential buyers in emerging market that cannot afford to buy the high-end iPhone 5s.
Established in 2010 by Lei and seven other associates, Xiaomi attempts to reduce costs by pouncing on word of mouth marketing strategy and web-based distribution.
Xiaomi is currently the 6th largest smartphone market in the first quarter of the year and had been valued at $10 billion in 2013. The company is considered to threaten both Apple and Samsung in the top of the shelf market in the coming months.
Xiaomi sold 18.7 million units in 2013 and sustained their 60 million sales target for 2014.