You may not have heard of them, and unlike it's name which seem to suggest otherwise, they are actually really BIG. Yes, I am talking about the Chinese tech giant Xiaomi.
Active mainly in China, Xiaomi is ready to set step onto the international stage, starting from the first stop in Singapore (if we don't consider HK/ TW). They have been marketing on social media since early this year, drumming up the hype. And just today Xiaomi announced their first product in Singapore, Hongmi, with a release date of 21st Feb, and an unbeatable price at SGD$ 169.
Xiaomi has made a statement with that price tag. All eyes were on the number before the announcement, as the market awaited whether Xiaomi would play up the same price aggressive strategy which made them so popular at home in China.
What’s the big deal? You may ask.
Xiaomi is well known for its value-for-money offerings like their famous MI phones, which are built with top of the line hardware, but priced (without contract) lower than what you will get with a 2 year telco contract. And that’s a big deal! To consumers, it means that you don’t have to spend too much for a smartphone with decent specs. To the competing brands, it is a nightmare that keeps them on their toes to compete in price in an already tough market. To the telcos, it is an unwelcoming option, as they look to lock their customers with contracts perpetually.
There must be a catch? You may ask.
Yes. The catch is that you may not be able to get one, if it proves to be as successful as at home in China, where demand is so high that Xiaomi does not have ready stock for all order, and one may need to wait for a month or two.
One of the challenges that Xiaomi has to tackle, before it can transform into a truly international brand, is the language. Other than the price, Xiaomi is also known for its active engagement with their users. Constantly getting feedback from the community, and delivering frequent update to their devices. That communication has been in Chinese, and that will need to be enhanced if they want a bigger stake on the world map. The choice of Singapore is an understandable one as such. While English is the main language, most Singaporeans also possess adequate level of Chinese proficiency. Besides, Singapore is very receptive to adopting new technology and products.
I do hope Xiaomi can take off starting from Singapore, as I am all for good and affordable tech. Now, please launch MI3 with LTE or MI4 already!
