Manu Kumar Jain, president of Xiaomi, hits the competition and smartphone prices

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Xiaomi has recently surprised users all over the world and released Pocophone 1. It is the only smartphone with the Snapdragon 845 processor at such a low price. According to Manu Kumar Jain, president of India's branch, there is no such technology in the world that would make the phone cost more than $ 699 a piece.
Manu Kumar Jain added that Xiaomi will never sell a phone with a price of $ 699 or more. As he claims, there is no technology that can be applied that would make his company impose such high prices to increase additional profits. He added that until the price of components increased, Xiaomi would not introduce a device that could harm the user's pocket.

Manu Kumar Jain confirms that Xiaomi will try to create a strong competition for Apple and Samsung

Xiaomi limits the profit margin from equipment to 5% to create budget-friendly devices. Thus, only an increase in the price of components would result in a price increase for these devices. In addition, the company works on advertising via its custom user interface, MIUI. Manu Kumar Jain shared the details during the inauguration of Poco F1 in India. He also stated that the Chinese company wants to create a really strong competition for other manufacturers.
Jain decided undoubtedly to gouge the giants like Samsung or Apple. For comparison - the latest model of the iPhone, X, costs 999 dollars. The same is true of the Samsung Galaxy Note 9, which is also very expensive.

Source: PhoneArena

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