Xiaomi Corp. has launched a massive 98-inch smart TV at the comparatively low price of 19,999 yuan ($2,829), in a bid to boost its position as one of China’s leading names with a diversified product range.
The company’s Redmi unit launched the product, dubbed “Smart TV MAX”, through a livestreaming event on Tuesday, eschewing the usual live audience debut due to the coronavirus outbreak. The product is set to go on sale by April 9.
With the price tag of 19,999 yuan, it is the most expensive TV Xiaomi has ever launched. However, it is far cheaper than comparable 98-inch models currently on the market, which normally cost over 100,000 yuan.
By launching the product, Xiaomi is riding a “bigger-screen wave” which consumers have opted for in recent years, said Liu Buchen, a home-appliance analyst, calling the 19,999 yuan price “disruptive” to market incumbents.
However, given that the 98-inch TV market is very small with annual sales of only several thousand, Xiaomi’s move is unlikely to have a significant impact on the overall market in China, said an executive at a major domestic TV manufacturer.
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