7 Things You Need To Know About Xiaomi’s Mi Crowdfunding In India!

After becoming the number one smartphone company in the country, the Chinese smartphone manufacturer is working on a diversified portfolio to bring in more innovation and variation to the brand. Recently the company committed to invest around 7000 crores in around 100 Indian start-ups to build an ecosystem for Xiaomi’s products in the country.

The company also launched its first range of Xiaomi televisions in India, with a number of consumer goods in the pipeline. Amidst upcoming launches, Xiaomi today has announced its ‘Mi Crowdfunding’ platform in India.The company will sell a select range of ‘innovation-driven products’ under the program.

7 Things About Xiaomi’s Mi Crowdfunding Program

What Is Xiaomi’s Mi Crowdfunding?

The ‘Mi Crowdfunding’ was first launched in China. Under the programme, consumers fund products that they want the company to produce. Since this number is too small for cost-effective mass-production, it helps the company to raise funds in small numbers. Xiaomi has already crowdfunded products like air purifiers and drones under this program.

How Does It Work?

Under the Xiaomi ‘Mi Crowdfunding’ programme, the company will have a list of products that you can fund. When the product garners a certain number of interests, it will be produced and shipped to you. But if your funded product fails to meet the target interests in the given timeline, the money will be refunded to you.

How Will ‘Mi Crowdfunding’ Help You?

Mi Crowdfunding will get you products that won’t be usually available in Xiaomi’s regular product line. Even if the product doesn’t reach its required number of likes, you get your money back. What’s more, if a product generates enough interest, Xiaomi may add it to their regular product lineup and give you the satisfaction of pioneering a product.

Which Products Are Available?

Initially, Xiaomi has listed two products. The company is bringing an audio Bluetooth receiver priced at Rs 999/- and a tripod selfie stick priced at Rs 1,099/- in the country through this platform. You will have to pay the entire amount upfront to back your product. The prices you pay will be lesser than the original price.

Where Will The Products Be Manufactured?

The products listed under ‘Mi Crowdfunding’ in India are already available in China. You will assist the company to launch the product in India. As soon as the funding gets over, these products will be officially launched in the country.

When Will More Products Get Listed?

Xiaomi will update new products on the ‘Mi Crowdfunding’ platform every three to four months. The platform has been launched as part of the ongoing Mi Fan Festival. The sale is offering a wide range of discounts on Xiaomi products on Mi Website as well as Mi Home offline stores.

Upcoming Products

After the Bluetooth Receiver and Selfie Stick, the company may list more products like mobile accessories, vacuum cleaners, security cameras, water filters, smart rice cookers and hoverboards. Xiaomi will use the platform to bring the products from China to India.

Xiaomi has listed two products under the Xiaomi ‘Mi Crowdfunding’ as of now;

Mi Bluetooth Audio Receiver

The Xiaomi Mi Bluetooth Audio Receiver has been priced at Rs 999/-. The device will come with Bluetooth 4.2 technology, which can convert any wired earphones and headphones into wireless ones.

The Mi Bluetooth Audio Receiver sports a single button and weighs only 10 grams. It can play music up to 4-5 hours on a single charge. The device also can convert any Car music system into a wireless music system.

Xiaomi Tripod Selfie

The other product on the list is the Xiaomi Tripod Selfie. The selfie stick has been priced at Rs 1,099/-. The selfie stick can be used for vlogging and for taking selfies. It is built out of good shock-free material.

The device comes with Bluetooth on board which helps connect the stick to your camera or smartphone directly, with support for both Android and iOS.