Move Over Apple, Samsung Here Comes Xiaomi’s Mi Pad

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May 15 (Bloomberg) -- In today’s “Global Outlook,” Xiaomi takes on Apple and Samsung with their newly announced” Mi Pad” which comes to market next month in China. Bloomberg’s Stephen Engle reports on Bloomberg Television’s “In The Loop.”

Released in china as the company tries to compete with apple and samsung.

The announcement was made at a conference in beijing.

Late at night.

Tell us about the details of this event and this tablet that going to compete with the big guys.

Bloomberg reporters are 24/7. always that beckon call.

When news is breaking.

-- always at beck and call when news is breaking.

The ipad is a global marketer.

Xiaomi wants to leverage its cellular.

They rose to number three in the china market behind samsung novo, selling about 11 million smartphones.

They broke into the top 10 globally, supplanting blackberry.

You can see the crash of people lining up to the event today.

The founder took the stage, launching this first tablet, the mi pad, on par with the ipad many in size and specs, but half the price.

Let's hear from him.

We want to make the best android tablet out there.

I hope our efforts will put some pressure on apple and prove that not all android tablets are being hidden away in drawers.

We want to make a tablet that everyone likes to use.

Everyone adopting the steve jobs, laid-back look.

This product, are they going to go international?

They are.

They're going to launch it in china, but right now, 97% of their phones are sold in china right now.

The company is entering 10 new markets, including india and latin america this year.

Malaysia is next, even this week.

They're going to use that model of using the leverage off the phone base and then selling tablets.

The overseas push is being driven by a familiar name in the u.s. and that is google's former android head, hugo barro.

He told me they will introduce the mi pad later this year after the launch in china.

Further down the road, even the united states.

Let's hear from hugo barro.

The u.s. is not in our plans for this year.

It is a competitive market.

Getting there requires working hard and being ready.

We do not know when it will be, but that is the goal.

Executives would not bite when i asked about sales projections, but i talked to one of the lead investors and he says he would be happy with about 4 million to 5 million sales in the first year.

He expects them to surpass that in the first year because of the frenzy demand for their products in china.

Thank you.

Here in the u.s., you can call this a buzz kill.

Beekeepers are being driven out of business.

This is according to an annual report by the department of agriculture.

Alan, tell us, is it the same thing killing the bees now than a few years ago?

We do not know what was

This text has been automatically generated. It may not be 100% accurate.

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