Xiaomi, the fast-growing Chinese smartphone maker, has moved into the tablet market, even as demand for the products shows signs of slowing.
Like Apple’s iPad Mini, Xiaomi’s Mi Pad has a 7.9-inch screen, two cameras and a fast processor, the company said at a launch event yesterday. But its retail price – Rmb1,499 ($241) for the version with 16GB of memory – is less than half that of the rival Apple device.
Founded in 2010 as a software company, Xiaomi only started selling smartphones in 2011, but has enjoyed rapid growth. Last year it sold 18.7m phones – up 160 per cent from 2012 – and its revenues rose 150 per cent to Rmb31.6bn.
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