Chinese electronics giant Xiaomi had a quiet launch of its Mi store in the United States and Western Europe, providing just a few accessories to consumers. The company isn't ready to directly sell smartphones and tablets to its latest markets just yet, but wants to slowly prepare its expansion in two key lucrative areas.
The Xiaomi Mi store sold two battery packs, a fitness tracker and one pair of headphones - all products costing $80 or less. It didn't take long before consumers purchased 200,000 units of the $80 headphones, $10 and $14 battery packs, or the $15 fitness tracker - clearly lured in by the low-priced electronics.
"There's a market for lower price point, mass market, high-quality goods in the U.S. and Europe," said Hans Tung, managing partner at the GGV Capital venture capital firm, in a statement published by Forbes. "This was a huge number - you just don't see that with US products."