Today, Xiaomi launched a new 5G smartphone Mi 10 Lite 5G in South Korea. It seems nothing strange with this statement but it is priced at half the price of competing products from Samsung and LG. So it is expected to attract price-conscious Korean consumers.
According to sources, at a video conference with Korean reporters on Thursday, Xiaomi executives stated that this phone ‘has the same hardware and software specifications as LG’s latest Velvet smartphone. But the price is 50% lower. Compared to nearly 900,000 won ($747), the price of the Xiaomi Mi 10 Lite 5G is only 451,000 won ($374).’
Xiaomi executives added that this smartphone ‘will be attractive to Korean consumers, who have high expectations for this product, but are also looking for a price-performance ratio.’
Xiaomi is selling smartphones through online shopping malls in South Korea. These e-commerce channels include 11th Street, Naver Smart Store and the famous e-commerce platform Coupang. Plus, there are SK Telecom’s online channels. This phone will not be available in physical stores.
However, LG Electronics did not seem to feel threatened. The company said that due to the lack of after-sales service, it is difficult for Chinese smartphones to become popular in South Korea. In fact, LG and Samsung are very popular in their mainland. So any other Chinese smartphone maker will meet many difficulties in Korea. And the after-sales service is one of them.
It is reported that Xiaomi has only 32 smartphone after-sales service stores in South Korea. And it has a cooperative relationship with SK Internet.