What They Say
Xiaomi said that it had its first ‘flash sale’ of the Mi Mix Fold smartphone in China and sold $61 million worth of devices in one minute to sell out completely. There were three different versions depending on the memory.
What We Think
This is between 30K and 40K units, depending on the memory mix. It goes to show the demand for devices. In a rehearsal for the Display Week CEO Forum, which I will be moderating, I had some interesting comments from Ian Jenks, Chairman of SmartKem and an experienced technology entrepreneur. We were talking about start-ups solving ‘pain points’ or problems for possible buyers. He emphasised the importance of ‘lust’ from consumers to have products as another way of getting going. His example was the attraction of OLED TVs when seen in store, but foldable smartphones are also this kind of sale. OLED-based smartphones have also been very desirable because of the image quality. (BR)
