Xiaomi MI Drone teaser photo announcing that it will be revealed at an event on May 25. (Photo : Twitter/Hugo Barra)
Chinese tech giant Xiaomi is expected to unveil its own drone on May 25. Although the exact details of the launch are still a bit hazy, a video posted on video-sharing website Youku hinted that the company is working on a device that looks exactly like a drone.
Xiaomi is best known for its line of affordable smartphones with impressive specs. On the other hand, the tech giant is also known to develop and manufacturer all sorts of devices, ranging from smart rice cookers to TV set-top boxes running on the Android platform.
Since the proliferation of drones, many Chinese drone manufacturers have flooded the market with affordable yet cheaply made drones, according to Tech Crunch. In fact, as of this writing, the top selling drone on Amazon is the SYMA X5C Explorer which costs $43.50.
Unlike other Chinese manufacturers, Xiaomi is highly regarded for its well-polished products which are marketed in a very competitive price point. Regarding its drone, many tech analysts are still expecting for the official specs lists and whether or not Xiaomi can deliver the device in the same competitive pricing like what it does with its line of smartphones.
According to Bloomberg, Xiaomi's upcoming drone is called the Mi Drone and will pick up a price tag of 4,000 yuan or around $610. In comparison, the DJI Phantom 3 4K, which is considered as the current market leader, costs $799. Just like the DJI's drone, the Mi Drone also supports high-resolution 4K video.
Xiaomi marketing director Li Zhuoqi told Bloomberg, "While making good-quality products, the price point has to be competitive as well. We have set a very thin margin for drones but the product line is set to be profitable."
Xiaomi's latest venture into the drone market means that it will go head-to-head with the Shenzhen-based DJI, which is the leading manufacturer in the business. While drones are still considered as a novelty item, sales are expected to reach up to $4 million this year and will eventually rise to $16 million by 2020.
Some financial analysts said that the decreasing demand in smartphone sales is what prompted Xiaomi to venture into other fledgling markets.
Below is a video teaser of the upcoming Xiaomi Mi Drone.
