Chinese smartphone giant Xiaomi Corp. and electric vehicle (EV) manufacturer BYD Co. are making inroads into the South Korean market with their cost-effective products.

Xiaomi Korea held its first press conference on Wednesday since establishing a Korean entity on January 6.

“South Korean consumers place emphasis on premium quality and reasonable value, which aligns with Xiaomi’s vision of Innovation for All,” said Johnny Wu, President of Xiaomi Korea.

Xiaomi Korea will launch five products sequentially, including smartphones, TVs, wearable devices, power banks, and robot vacuum cleaners until mid-February.

The first to be released are smartphones – the premium smartphone Xiaomi 14T and the mid-range Redmi Note 14 Pro 5G.

Both devices are equipped with AI features such as Google’s AI assistant Gemini with Circle to Search.

Based on its performance in the Chinese domestic market, Xiaomi has maintained its position as the world’s third-largest smartphone manufacturer for 17 consecutive quarters as of the third quarter of 2024.

The Xiaomi 14T is priced at 599,800 won ($412) for a 12GM+258GM model and 649,800 won for the 12GB+512GM model.

While Xiaomi Korea emphasizes affordability, Chinese electronic devices are still not free from concerns about potential personal data leaks.

Last year, a UK consumer group claimed that user information collected through an app connected to Xiaomi’s smart air fryer was being sent to servers in China.

Xiaomi, in the meantime, did not hint at the launch of EVs in Korea.

“For the next three years, we will focus entirely on the Chinese EV market,” Wu said. “When we expand globally, we will naturally include Korea in our markets.”

At least four Chinese EV makers, including BYD, are preparing to enter Korea.

BYD is set to host an official launch event for its Korean brand on Thursday.

BYD Dolphin is expected to be priced in the mid-20 million won range, though the exact price has yet to be disclosed.

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