CHINA-based Xiaomi Inc today unveiled its new and fastest smartphone Mi3 in Malaysia, which will be available in the market from tomorrow at Xiaomi official website.

Xiaomi president and co-founder Bin Lin said the company used lower price as its strategy to compete with the premium smartphone manufacturers such as Apple and Samsung.

“We offer our customers with high performace and intelligent smartphone but at lower price compared to other brands,” said Lin at the launch of Xiaomi MI3 here.

On the company’s target market share and growth, Lin said it did not have any projection and wants to put more focus on improving the products and services to give customers the best brand experience, as well as to increase its production rate.

Xiaomi Malaysia currently has four third-party service centres nationwide located in Kelantan, Perak, Kuala Lumpur and Penang.

“We have been planning to build our Xiaomi centre in Malaysia and also a warehouse here but it all depends on demand from customers here,” said Lin.

The Mi3 device is priced at RM889 with 4,000 units on sale as the first batch in Malaysia starting from tomorrow, whereas the second batch will arrive  in five to seven days after tomorrow’s launching.

The company has in the pipeline several products for launch in Malaysia soon to strengthen its presence in the country including Redmi 1S, Mi Pad, Mi Box Pro, Mi WiFi Mini and MiTV2, a high-definition television, which will be launched between June this year and early next year.

On Xiaomi’s marketing strategy, Lin said the company is using the Internet marketing strategy and via social network as it did globally, and this would be reciprocated in Malaysia as well.

The company aims to attract young adult consumers, especially college students, as they were the heavy e-commerce shoppers, said Lin.