Chinese smartphone maker Xiaomi sets foot in smart TV market
BEIJING, Sep 05, 2013 (Xinhua via COMTEX) --
Chinese smartphone maker Xiaomi on
Thursday released a smart TV product with high configuration and at a
low price of 2,999 yuan, which was expected to bring a price war to
China's TV market and build up the company's ecosystem.
Xiaomi had become the fourth largest Internet company following
Baidu.com Inc. (BIDU.NASDAQ), Alibaba and Tencent with an estimated
value of more than 10 billion US dollars after a new round financing.
The new product was configured with 47-inch full-HD screen
provided by Samsung and LG, Quad-core 1.5G CPU provided by Qualcomm,
2G RAM and 8G flash memory, and was definitely sold at a loss,
according to industry insiders. It would be formally put into market
in mid October.
Previously, China's Internet companies LeTV and iQIYI had
respectively released their smart TV products on the market, and the
prices were all lower than that of traditional TV products.
Statistics from China Market Monitor showed that the 60-inch smart TV
product of LeTV posted a sales volume of 15,075 sets in July,
accounting for 35.23 percent of the total on China's TV market, and
ranking first among China's 16 mainstream color TV brands.
Industry insiders said the Internet companies were redefining TV
and making smart TV another Internet access for family users besides
PC, tablet PC and mobile phone. Lei Jun, CEO of Xiaomi, said that the
company's smart TV was a combination of TV sets, Xiaomi set-top-box
and android game machine, and the game function would bring Xiaomi
added value at first after putting the product into market.
Xiaomi also released its new smartphone product on Thursday, which
had 45 percent higher performance and 30 percent lower power
consumption than its predecessor. According to market researcher
Canalys, the company's smartphone shipment reached 4.4 million in the
second quarter, occupying 5 percent market shares. Xiaomi had
upgraded its sales forecast of the whole year in 2013 from 15 million
at the year-beginning to 20 million.
Analysts said that Xiaomi's ecosystem would involve hardware
products, including smartphone, set-top-box and smart TV, and
software products, including the application market and game center.
And all these products were based on Xiaomi's self-developed MIUI
system. It is predicted that the company would further strengthen
research and development of MIUI and MIUI desktop, accelerate
transformation of its website, and even become a vertical e-commerce
According to Li Wanqiang, vice president of Xiaomi, the company
had had 18 flagship stores, 419 authorized retail stores and 5
storage centers throughout China. (Edited by Li Xiaoyu,
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