Xiaomi’s Answer to Apple’s iPad: The MiPad
Xiaomi, the low-cost Chinese smartphone maker that has quickly gained market share in the world’s largest smartphone market, unveiled its first tablet on Thursday, Reuters reports. Like its budget Android-powered smartphones, Xiaomi’s MiPad is cheaper than devices with similar technical specifications made by rivals such as Apple (NASDAQ:AAPL) and Samsung (SSNLF.PK).
According to Xiaomi’s website, the 16GB MiPad will sell for 1,499 yuan, or about $240. The MiPad features a 7.9-inch, 2048 by 1536 resolution screen, and a 2.2 GHz Tegra K1 processor made by Nvidia (NASDAQ:NVDA). The MiPad’s technical specifications are on par with Apple’s 16GB iPad mini with Retina display, which starts at about 2,888 yuan, or $463, in China, according to PCWorld.
Although Xiaomi’s MiPad undercuts several other competitors’ tablet prices, CEO Lei Jun made it clear that the company was targeting Apple’s market share, at least in the Chinese tablet market. “We hope Apple will feel some pressure,” said Lei at the MiPad’s unveiling event, per PCWorld. “I believe the Xiaomi tablet will become the best Android tablet.”
Although Xiaomi declined to provide a launch date for the MiPad, Lei said that a test version of the device would be made available to the public by mid-June, according to Reuters. However, it was unclear if the MiPad would be available outside of China. It should be noted that Xiaomi sells 97 percent of its smartphones within mainland China, according to data from market research firm Canalys.