Xiaomi rumoured to be working on 500 Yuan phone

Supply chain sources in Taiwan have hinted that Xiaomi are working on releasing a 500 Yuan Android smartphone in 2015.

Xiaomi have had a seller year. Becoming more popular than ever, managing to reach number 5 in the largest smartphone vendors in the world and releasing more products than ever. Of course there is no chance the Lei Jun and his team will take next year off to let other companies catch up, and already rumours are in that their next big launch could be more affordable than ever.

According to Taiwan based supply chains, Xiaomi are currently working with BOE Technology to create an affordable display for an upcoming Xiaomi phone. The new entry-level device would cost considerably less than current Mi flagships and even cheaper than the already well priced Redmi range. A estimated retail price for the new Xiaomi phone is hinted at 500 Yuan (around $81).

This is not the first time we have heard rumours of a cheaper Xiaomi phone. These latest reports could relate to a phone powered by a 4G LTE processor from Chinese SoC manufacturer Leadcore, who Xiaomi recently invested in.

In other news, it was revealed earlier today that Xiaomi’s profits are down on what many analysts had predicted with an overall profit margin of only 1.3%. Considerably less than the 28.7% Apple are reporting and 18.7% of rival Samsung.

[ Digitimes, and QZ.com ]
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