China's Xiaomi Launches 'Mi Pad'; Apple (AAPL) on Watch
Get Alerts AAPL Hot Sheet
Overall Analyst Rating:
NEUTRAL (= Flat)
Dividend Yield: 0.5%
EPS Growth %: -0.7%
Join SI Premium – FREE
The Apple (Nasdaq: AAPL) of China® is at it again.
Reports out Friday have Xiaomi launching its Mi Pad tablet device today. The tablet, which sports the same colors as Apple's iPhone 5c, has a 7.9-inch display, NVIDIA (Nasdaq: NVDA) Tegra K1 processor, 2-GB of RAM, 8-megapixel rear camera, and up to 64-GB of storage.
With the launch, Xiaomi has about 100 apps and 400 games with plans to have 1,000 apps available before the end of 2014.
The 16-GB Mi Pad costs $200, undercutting both Apple's iPad mini and Samsung Galaxy Tab 4.
No 3G or LTE support will be available for the device.
While this could pressure Apple tablet sales in China somewhat, most believe that thos looking to buy a Xiaomi will buy one while those in the market for an iPad will get that instead.
Shares of Apple are lower in early trading Friday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Midday movers: PepsiCo, JetBlue fall; GM, Danaher and UPS rise
- Apple's June guidance will miss Street estimates - Barclays
- Bank of America analysts say this stock will lead the aerospace renaissance
Create E-mail Alert Related Categories
Insiders' BlogSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!