Updated at 2.50PM: We just received the official statement from Xiaomi.
Xiaomi - "Dear Mi fans, we're sold out for #Redmi - in just 8 minutes! As this is the first time we're selling in Singapore, we wanted to learn more about the market behaviour, sales reaction, and optimise our business processes (e-commerce, logistics, customer support). We understand that many of you are eager to purchase a Redmi still, so we are working hard to bring in more products for you. We'll announce our next round of sales shortly. For those who have successfully placed an order, we are working hard to fulfill your orders and you will be getting your #Redmi soon."
Update at 2.22PM: We just got word from Xiaomi that stocks of the Redmi sold out in 8 minutes. The company declined to provide specific sales numbers.
Originally reported at 12.32PM
As expected, stocks of the Xiaomi Redmi ran out within minutes after it went on sale at 12 noon today.
Some consumers reported on Xiaomi Singapore Facebook Page that it took less than a minute for stocks to be depleted. We managed to get one for ourselves at 12.04PM.
Xiaomi's smartphones are very popular among consumers in China, Hong Kong and Taiwan. The company announced in October last year that it sold 100,000 units under two minutes. When Xiaomi launched the Redmi in Hong Kong on 18 December, 10,000 units were snapped up in 36 seconds.
We are still awaiting the official figures from Xiaomi Singapore and will update this article when we have the information. In the meantime, do check out our review of the Redmi.