Xiaomi unveils Mi 5 flagship at its first global smartphone launch - and it seems worth the wait
For first time, Chinese market leader delivers a smartphone featuring NFC function for mobile payments, ceramic body
High-flying Chinese technology start-up Xiaomi is looking to make a big push into more markets and the higher-end segment of the global smartphone industry, following its first-ever global product launch on Wednesday.
The Beijing-based company unveiled its latest flagship model, the ceramic-encased Mi 5, that appears part of a master plan to differentiate it from the other aggressive Chinese smartphone suppliers, like Huawei Technologies and Lenovo Group.
“It’s the most beautiful device we have unveiled so far,”said Lei Jun, founder and chief executive of Xiaomi, speaking at the global product launch in Beijing.
Xiaomi ranked as the world’s fifth-largest global smartphone supplier last year and the market leader in China, according to data from research firm IDC.
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The Mi 5 runs on the super-fast Qualcomm Snapdragon 820 processor and has 128GB of storage. It costs 2,699 yuan (US$410), about 30 to 50 per cent the cost of a similarly premium model from Samsung Electronics, Apple or even Chinese electronics maker Huawei.