Chinese budget handset maker Xiaomi Inc. is expected to begin selling its new flagship Mi4 smartphone next week, the Hong Kong Economic Journal reported Wednesday.
It will compete on features with Apple Inc.’s iPhone and will be priced significantly lower at 1,999 yuan (US$322.27). One million units will be released in the first two months of its debut.
Xiaomi chairman Lei Jun said the new smartphones will have Qualcomm Snapdragon 801 processors and 13 megapixel cameras.
A 3G version will be released initially, with 4G models running on TD-LTE and FD-LTE ready in September.
Xiaomi is shifting its strategy to achieve quick returns in order to boost margins, a departure from its hunger marketing approach, market watchers said.
The company has sold 10.5 million Mi3 smartphones, 18 million units of Hongmi, also known as Redmi, and 3.56 million pieces of Redmi Note, Lei said.
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