Update at 12:15PM: It only took two minutes for stocks to run out.
The first batch of Xiaomi Mi 3 was snapped up by consumers within minutes after it went on sale at 12 noon.
Priced at S$419, the Mi 3 is a good deal if you do not require 4G LTE connectivity and a memory card slot. While we wait for the official statement from Xiaomi, do check out our review of the smartphone.
Its midrange offering, the Redmi has proven to be very popular among consumers too. The first batch sold out within 8 minutes on February 21 while the second batch was gone in 6 minutes.
Xiaomi sells most of its smartphones through its website and social networks in China. For Singapore, Xiaomi also partnered with the three telcos to sell its phones. Selling phones online helps the company minimize costs for consumer as it eliminates the need for middlemen and distributors.
Many critics pointed out that Xiaomi is using scarcity marketing to create artificial shortages, the Chinese phone maker stated that these flash sales are used to gauge consumer reaction to each phone model. If the response to a particular phone model is positive, Xiaomi will increase production of the phones to meet demand. This helps to keep costs to a minimum while ensuring that there is no surplus.