Xiaomi’s $169 Redmi sells out in 7 minutes in Singapore, Asia
Xiaomi is known for their marketing technique in China where they will sell a model at very limited supply so it goes out of stock in a minute or a few minutes, thus making the news. It has built quite a branding and name for itself (their fans are called mifen, so perhaps the local equivalent would be beehoon), and has recently expanded to Singapore (Singapore’s SWF Temasek holdings, being one of its shareholders)
Redmi is their entry offering at $169, which is a smartphone without 4g or LTE, while their mi3 will retail here at $419.
Quite a bit of people are excited over a low cost, but still value packed smartphone that they wouldn’t have to take a trip over to China and then customize on return for.
While they sold out through their online site, local telcos will also be selling xiaomi phones.
Excited flippers are already trying to sell it for 2x or 3x markup.
The online purchase is done via paypal.
Too bad they don’t take bitcoins
Might be interesting though, since would they be able to use bitcoins for orders in other jurisdictions perhaps Singapore, South Korea and within borders such as Hong Kong even if they may be prohibited in China? Maybe one of their Google hires poaching may be a bitcoin enthusiast in the future and can push that through.
For better or worse, the launch has spawned a near 100 page hwz thread