Chinese smartphone maker Xiaomi is looking to introduce drones priced at least 20 percent lower than from market leader SZ DJI Technology, Bloomberg reported, citing a source with direct knowledge of the matter.
The drone, made by FIMI Technology, will record high-resolution 4K video and cost about CNY 4,000 (USD 610), the person said, asking not to be identified as the details are private. That compares with USD 799 for the Phantom 3 4K device on DJI’s website.
“While making good-quality products, the price point has to be competitive as well,” Li Zhuoqi, a marketing director for Xiaomi, said without disclosing a price or sales estimates. “We have set a very thin margin for drones but the product line is set to be profitable.”
