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The world’s first smartphone powered by Qualcomm Snapdragon 888, the Xiaomi Mi 11, released in China. The device has an impressive spec sheet: 6.81-inch AMOLED panel with 3200 x 1440 resolution and 120Hz refresh rate, under-screen fingerprint sensor, three cameras with a 108 MP main sensor, 5 MP telephoto lens and 13 MP ultra-wide module and 4600 mAh battery with support for 55W wired and 50W wireless charging.
The base variant with 8GB of RAM and 128GB of storage costs 3,999 Chinese yuan (~ $ 612). Western prices have not yet been announced.
This makes the iPhone 12 almost $ 429 more expensive in China.
Unlike the iPhone 12, the Mi 11 can be purchased as part of a bundle that includes a charger at no additional cost.
According to an earlier report, the estimate The Bill of Materials (BoM) cost for the iPhone 12 is $ 373. The BoM only shows how much it costs a supplier to procure the components needed to make a product and it does not take into account other expenses such as research and development, salaries and marketing.
Although Xiaomi hasn’t revealed the Mi 11’s BoM, we do know the company has is committed to keeping its profit margins low. Apple and Samsung, on the other hand, are known to keep significant margins on their phones.
Xiaomi’s competitive pricing strategy has enabled it to succeed in two of the world’s largest smartphone markets: China and India. In the third quarter of 2020, the company toppled Apple as third largest smartphone maker. This was largely because Xiaomi aggressively tried to capture Huawei’s market share and Apple’s shipments suffered from the delay in launching the iPhone 12 series.
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