Xiaomi, Redmi split to become different brands: Report
"Xiaomi has announced to make 'Redmi' an independent brand. The new brand has already scheduled a launch event on January 10 in China where it will launch its first smartphone with a 48-megapixel camera sensor," Gizmo China reported late on Thursday, quoting Lei Jun, founder of the company.
"While the Redmi brand focuses on value-for-money budget smartphones, the Mi brand is focused on high-end devices. Also, the Redmi devices are primarily sold through e-commerce platforms while Mi devices are not e-commerce focused," Lei was quoted as saying on Chinese micro-blogging site Weibo.
Thanks to its robust sales in India and Europe, Xiaomi reported a 49.1 per cent year-on-year increase in revenue for its third quarter of 2018 as net profit reached 2.48 billion yuan ($357.23 million).
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