Xiaomi said on Tuesday that it will launch a new mid-range smartphone in South Korea. Amid rumors that the local Korean brand LG Electronics may withdraw from the mobile business, the Chinese technology giant is trying to strengthen its presence. Xiaomi said that the Redmi Note 10 will be listed in South Korea on March 30, priced at 218,000 won (approximately $193). In addition, the Redmi Note 10 Pro will be listed on April 9 at a price of 319,000 won (approximately $282).
Redmi Note 10 Pro has four rear cameras, including a 108-megapixel main camera. This phone comes with a Qualcomm Snapdragon 732G chipset. It also uses a 6.67-inch screen that supports a 120Hz refresh rate/ Under the hood, this device has a huge 5020 mAh battery. The Redmi Note 10 also has a quad rear camera setup but uses a 48MP main sensor and a 6.43-inch display.
Industry observers claim that Xiaomi is likely to step up its efforts in South Korea this year to seize market share from LG. This is as a result of the several reports that LG is considering exiting the smartphone business.
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LG is the third-largest smartphone brand in South Korea
According to data from Counterpoint Research, a market tracking agency, LG is the third-largest smartphone manufacturer in South Korea last year. The company has a market share of about 13%. Thus, LG’s market share in South Korea is not as bad as many will think. It is worth fighting for if the company eventually exits the market. Samsung Electronics is the local leader with a market share of 65%. Apple follows a distant second with a market share of 20%.
Analysts predict that Xiaomi will launch mid-range smartphones with high-quality specifications for local consumers. According to Counterpoint Research, smartphones priced at $400 or less account for 41% of the Korean smartphone market in 2020, up from 34% a year ago.
The Redmi Note 10 Pro and Redmi Note 10 is a good smartphone for the Korean market. According to a recent report, they are one of the most underrated gaming smartphones in the indstry. These devices offer much more than their price tag. If the South Korean market notices its high price-to-performance ratio, Xiaomi will start on a strong note.
Further reports show that Xiaomi will also release a TV in South Korea. The company will launch the Mijia TV 4S ( 65-inch and 55-inch sizes) in South Korea. These TVs cost 849,000 won (approximately $750) and 649,000 won (approximately $574) respectively.