After Samsung, Xiaomi wants to challenge Apple next. Despite limited influence outside China, Xiaomi continues to generate support and market demand challenging releases from both Samsung and Apple. Xiaomi's Mi3 sold out in seconds in India with more than 100,000 people registering despite the 20,000-stock limit. More importantly, Xiaomi's Mi4 $320 price tag and premium features impressed observers pegging it as possibly the next best phone following iPhone 6. Will Apple's iPhone 6 performance be threatened?
Apple's iPhone 6 is poised to be the biggest launch of the year that Morgan Stanley has even offered strong investor endorsement on the company. The upcoming product cycle will reportedly be the biggest for the company thus an ideal time for investors to obtain Apple stocks. According to AppleInsider, Morgan Stanley's recommendation also drove shares to $100 last August 19 during mid-day trading. While this spells great for Apple, the cycle will not be ideally smooth sailing with competitors threatening to match the release.
One of these is Xiaomi.
According to The Wall Street Journal, Xiaomi, a previously "Little Rice," has already grown. The company took the top spot at the leading smartphone manufacturer in China during the second quarter. According to statistics from Canalys, a market research firm, Xiaomi surpassed Samsung's shipments for the first time. Specifically, Xiaomi took 14% of China's smarpthone market with Samsung trailing behind along with Yulong and Lenovo. The three companies took 12% respectively. The growth is substantial with Xiaomi's market share at 7% during the first quarter. The company's second quarter result is also an even bigger jump from the company's 5% share in the previous year. This shows Xiaomi's growing potential.
According to Seeking Alpha, Xiaomi's Mi4 value is its small price tag but excellent features. The device comes with a 5-inch screen with full HD display, Snapdragon 801 processor and 3GB RAM. The device offers similar power as the Samsung Galaxy S5 and might be comparable to the iPhone 6 soon. The impressive thing is that it is only priced at $320-325. While prices vary per carrier, it is still cheaper than most handsets including Apple's iPhone series.
To support the growing market demand and appeal of Xiaomi's products, Economic Times reports that the company sold 20,000 units of its Mi3 in India within seconds this August 19 via Flipkart. The next sale will be on August 26 offering more sales opportunities. More than 100,000 people signed up in hopes of being one of the owners of the 20,000 units last Tuesday.