Xiaomi is planning on taking on South Korean tech giants like Samsung and LG in their home country. The 5G market is robust in South Korea with Samsung and LG dominating the region. However, the Chinese brands aim at disrupting this market with 5G handsets that cost half in comparison to its rivals’ offerings.
The Chinese company expects the South Korean market to be a tough challenge and that products from China might face issues in being welcomed in the region. Thus, to tackle this situation, Xiaomi has recently launched its own 5G device offering at half the price of its competition. At the moment, the LG Velvet costs around 900,000 Won (roughly 747 US Dollars) while the Xiaomi Mi 10 Lite costs only 451,000 Won (roughly 374 US Dollars).
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According to a Xiaomi executive, the pricing ” will be attractive to Korean consumers, who have high expectations for this product, but are also looking for a price-performance ratio.” The company is selling its smartphones through multiple online sellers and major e-retailers, including 11th Street, Naver Smart Store, Coupang, and even SK Telecom’s online channels. Unfortunately, it will not be available through offline physical stores.
Interestingly, it seems that LG seems unphased by the massive price disparity between two similar smartphones. This might stem from the fact that Chinese smartphones have a lack of or poor after sales service infrastructure, which is a big reason why customers to avoid it. In other words, any Chinese vendor will face such challenges when entering the South Korean market.
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(Via)
