Xiaomi is known particularly for its super-cheap, but powerful mid-range Android phones in India, but now CEO Lei Jun wants Xiaomi to invest more and make better products that might be more expensive.
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Xiaomi’s days of offering super-affordable devices with above-average hardware might soon be coming to be an end. The price-sensitive brand doesn’t want to be recognised only as a budget smartphone brand and plans to invest more to make better products.
The company is known particularly for its super-cheap, but powerful mid-range Android phones in India, while in China, the company also makes affordable flagships like the recently announced Xiaomi Mi 9.
However, in a video by TechNode, Xiaomi CEO Lei Jun is heard saying, “Actually, we want to get rid of this reputation that our phones cost less than 2,000 yuan. We want to invest more and make better products.”
Juan also added that he told the company that the Mi 9 will be the last flagship phone under 3,000 yuan from Xiaomi. “In the future, our phones might get more expensive — Not a lot, but a little more expensive.”
The newly announced Xiaomi Mi 9 starts at 2,999 yuan (Rs 31,000 approximately) for the 6GB/128GB variant which is a slight increase over the price of the previous Mi 8 which launched at 2,699 yuan. For that premium, you get newer features like a triple-camera setup, wireless charging and faster wired charging apart from upgraded performance and a newer design.
However, the statement seems to be in contrast to Xiaomi’s previous statement of sticking to a flat five percent profit margin made last year. There’s also the question whether Xiaomi is making five percent profit at all so far.
But if the company indeed wants to stick to its five percent profit margin, it’s likely that the cost of producing future Xiaomi flagships will increase indicating the company will not shy away from experimenting with new technology.
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