The Company Crushing Apple And Samsung In China Is Making An Amazing Super-Cheap Phone
That's about half as much as what you would pay for a new phone from Samsung or Apple. And it's about the same price as Xiaomi's current Mi4 flagship, which costs $320.
The company is rumored to be working on its new flagship smartphone, presumably called the Mi5.
Based on leaked photos and specifications that have been previously reported, it looks like Xiaomi's next phone will be razor thin, gorgeous, and super powerful. And, now it seems like Xiaomi is looking to keep the price incredibly low even though it plans to put the latest components inside.
According to analyst Sun Chang Xu, the Xiaomi Mi5 will come with a large 5.7-inch screen that has a 2560 x 1440 resolution and will cost $325.
Chang Xu also expects the phone to run on Qualcomm's upcoming Snapdragon 810 processor, which is the successor to the chip popular Android phones such as the Galaxy S5 and HTC One M8.
These specifications are similar to those inside phones like the LG G3, which also costs nearly $600 off contract. In fact, if Chang Xu's predictions turn out to be accurate, the screen on the Mi5 would be even sharper than that of the iPhone 6 and Galaxy S5 even at such a low price point.
It's important to remember that these are just predictions made by an industry analyst - the information isn't affiliated with Xiaomi at all, so there's a chance it isn't accurate.
Here's a rendering of what the phone may look like, which leaked in November (via Phone Arena).
The idea that a phone with such high-end hardware could come at such a cheap price is incredible - and it's a strategy that's been working extremely well for Xiaomi and startup rival OnePlus in the Chinese mobile market.
In the second quarter of 2014, Xiaomi passed Samsung to become the most popular smartphone maker in the country. The quarter before that, Xiaomi blew past Apple in terms of smartphone market share in China. It's the fastest growing smartphone manufacturer in the world.
The insanely cheap prices of its products are only part of the reason companies like Xiaomi and OnePlus are so successful in China. Both companies are great at branding and getting consumers excited about their products.
That's why they're able to sell their phones online without having to spend a ton of money on elaborate marketing campaigns, OnePlus' global director and cofounder Carl Pei explained to Business Insider last month when discussing the Chinese smartphone market.
We may learn more about the Mi5 next month, as rumors suggest it could debut at the Consumer Electronics Showcase in Las Vegas.