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zglobal Post time: 2014-3-7 07:53
There are lots of good products in the world, but not so many brands.
Making a global brand is a ...
First batch of Xiaomi Mi3 smartphones sold out in Singapore
Monday, Mar 10, 2014
It only took two minutes for stocks to run out.
The first batch of Xiaomi Mi3 was snapped up by consumers within minutes after it went on sale at 12 noon on Friday.
Priced at S$419, the Mi3 is a good deal if you do not require 4G LTE connectivity and a memory card slot.
Its midrange offering, the Redmi has proven to be very popular among consumers too. The first batch sold out within 8 minutes on February 21 while the second batch was gone in 6 minutes.
Xiaomi sells most of its smartphones through its website and social networks in China. For Singapore, Xiaomi also partnered with the three telcos to sell its phones. Selling phones online helps the company minimise costs for consumer as it eliminates the need for middlemen and distributors.
Many critics pointed out that Xiaomi is using scarcity marketing to create artificial shortages, the Chinese phone maker stated that these flash sales are used to gauge consumer reaction to each phone model. If the response to a particular phone model is positive, Xiaomi will increase production of the phones to meet demand. This helps to keep costs to a minimum while ensuring that there is no surplus.
Xiaomi may be a new player in the mobile scene here, but its marketing strategies and presence do not go unnoticed. Its midrange smartphone, the Redmi, is so popular among consumers in Singapore that the first batch of stocks ran out in 8 minutes on February 21. The second batch released six days later was snapped up in 6 minutes.
It's not hard to guess why the Redmi sold like hotcakes; it presents itself as an extremely good value for money smartphone and delivers good performance for its price point. Its flagship smartphone, the Mi3 is selling very well in the Chinese market too. Here's a quick overview of its sales figures for the past few months:
• 100,000 units were sold out in less than two minutes (to be exact, 86 seconds or 1 minute and 26 seconds) on October 2013
• 150,000 units were sold in 9 minutes and 55 seconds on WeChat
• 50,000 units were sold out in 4 minutes and 59 seconds on January 7