Xiaomi CEO Confirms Plans to Launch $600 Smartphone

Xiaomi's key success formula stems from its product proposition of high-end specifications at low prices. The company is just six years old, and has already hit the milestone of being the world's fifth largest smartphone manufacturer. However, the company looks to shift its focus, and venture into the high-priced market as well this year.

Xiaomi co-founder Liwan Jiang has confirmed that the Chinese manufacturer is definitely releasing a high priced smartphone in the market this year. The smartphone will be priced at CNY 4,000 (roughly $600 or Rs. 40,400), which is a completely new price bracket for Xiaomi. However, Jiang asserts that the specifications and hardware on the device will still make it value for money in the market. What Xiaomi plans to offer with this high-priced smartphone remains unknown. An initial rumour claims that the smartphone may just be the top-end variant of the rumoured Mi Note 2, with a dual curved screen display.

In other Xiaomi related news, based on the teasers, the company is expected to launch the Xiaomi Mi Note 2 soon. The smartphone is pegged to come in three models - standard, high, and top-end. Some of the rumoured specifications include 12-megapixel dual rear cameras, 4000mAh battery, fast charging support, fingerprint scanner, and '3D Touch' display. The price is pegged to be at CNY 2,499 (approximately Rs. 25,000) for the standard 4GB of RAM and 32GB of storage model. The high end model with 6GB of RAM and 64GB storage may be priced at CNY 2,999 (approximately Rs. 30,000), while the top-end option with 6GB of RAM and 128GB storage is to come for CNY 3,499 (approximately Rs. 35,000).