Caixin
Jan 08, 2019 07:13 PM
BUSINESS & TECH

Xiaomi to Spin Off Low-Cost Brand

An advertisement for a Redmi smartphone is seen in Wuhan, Central China’s Hubei province. Photo: IC
An advertisement for a Redmi smartphone is seen in Wuhan, Central China’s Hubei province. Photo: IC

Xiaomi Corp. will spin off its low-cost Redmi brand on Thursday, continuing its strategy of developing multiple specialized brands to offset slowing sales growth.

The move, announced on its official website (link in Chinese), will be accompanied by a new Redmi model to be unveiled at 2 p.m. China Standard Time.

The world’s fourth-largest smartphone-maker has adopted a multibrand strategy since last year in a bid to reach out to more user segments amid slowing smartphone sales worldwide.

You've accessed an article available only to subscribers
VIEW OPTIONS
Share this article
Open WeChat and scan the QR code
Copyright © 2017 Caixin Global Limited. All Rights Reserved.