China's Xiaomi, the world's No. 5 producer of smartphones, is entering Brazil, where it plans to open its first plant outside Asia.
Xiaomi, known as "China's Apple," is making its Redmi 2 smartphone available at its online store to Brazilian consumers for 500 reais ($160) starting on July 7.
The device's affordable price is due to low spending on advertising and the use of an online sales model, Xiaomi vice president Hugo Barra said during an event in Sao Paulo on Tuesday.
"One of the difference makers in being able to offer high tech products at highly competitive prices is direct sales to consumers via the Web site and advertising only via social networks virally, without investing in other media," Barra said.
Xiaomi, which was founded in April 2010, has 100 million customers using its MIUI operating system.
The company, which is estimated to be worth $45 billion, sold 61 million mobile devices in 2014.
Xiaomi has been successful because it sells "high-quality products, the prices are fair and fans are passionate about it," Barra said.
Fans of the Chinese tech company's products turned out in large numbers for the Redmi 2 launch event in Sao Paulo.
Xiaomi is also selling the Mi Band wearable fitness tracker, the Mi Power Bank charger and a variety of accessories in Brazil. EFE
Source: Chinese smartphone giant Xiaomi enters Brazilian market
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