Chinese Mobile phone manufacturer is expected to launch its first drone tomorrow, the 25th of May 2016.
According to Bloomberg, the drone, made by FIMI Technology, will record high-resolution 4K video and cost about 4,000 yuan ($610). That compares with $799 for the Phantom 3 4K device on DJI’s website.
It is expected that Xiaomi will undercut the competition by offering customers an awesome product at a cheaper price; same strategy it used in China’s smartphone market.
“While making good-quality products, the price point has to be competitive as well,” Li Zhuoqi, a marketing director for Xiaomi, said without disclosing a price or sales estimates. “We have set a very thin margin for drones but the product line is set to be profitable.”
Xiaomi hopes it can capture a part of the consumer drone market that Grand View Research expects will reach reach $4.19 billion by 2024.
