At the time of writing Xiaomi (OTC:XIACF) stock is selling for $1.69 USD and climbing. The Japanese phone maker entered into the mobile market with a bang and it continues to impress. At $1.69, these cheap stocks are hard to overlook.
Xiaomi: Cheap Stocks
In essence, Xiaomi does something very clever. It clones the products of the world’s most successful tech-giant, Apple, and then sells its equivalents at give-away prices, affordable to the everyday user—because who really needs a $1,2oo phone?
It has offerings such as the Mi Pad—a blatant copy of Apple’s iPad mini, and it creates Android ‘masks’ (if you will) that replicate the look of Apple’s iOS.
But its products are of good quality; repeatedly receiving 5-star reviews, its most recent offering, the Xiaomi Mi 8, has a selling price of $390 USD—a price point that gives Apple’s latest iPhone X something to think about.
>> Cannabis Penny Stocks: Terra Tech to Acquire Golden Leaf Holdings
In fact, these cheap stocks give the mobile consumer a wake-up call. Is it simply that Xiaomi products are cheaply manufactured, or is it living proof that the industry leaders are way overpriced?
Xiaomi’s Cheap Stocks
The latest product shows why Xiaomi is known for its simple, inexpensive accessories as much as it is for its phones.
It announced AirDots, an AirPods competitor, priced at only $29. Like Apple’s AirPods, AirDots are white, and their name doesn’t exactly try to hide their ‘influence’ drawn from Apple’s $140 pioneering wireless earbud.
But no doubt, at $29 a pair, AirDots will please a massive market who don’t need what’s popular, they just need what works.
The Takeaway
It’s impressive what the company has achieved in only eight years of business. Sales are booming in China and India but this company needs global reach if it wants to really take on the giants. Currently, its products are not available in the US and have very limited availability in Europe.
But it has plans in the works to increase its footprint. Further roads into Europe are on the horizon apparently and in 2019, it will begin to move into the US.
These are cheap stocks well-worth the price tag. Like its products, Xiaomi’s price is low but the quality is all there.
