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Xiaomi Mi 11 success practically guaranteed after over 226000 people sign up for preorders –



The Xiaomi Mi 11 is the first smartphone to be launched with the Snapdragon 888 processor. (Image source: Xiaomi)
The Xiaomi Mi 11 smartphone hasn’t even been officially launched yet and it already seems like it will be a great sales success for the company. Over 226,000 people have already signed up for Mi 11 preorders via a single platform. There is some speculation that sales for the Xiaomi Mi 11 series will start in China on January 1, 2021.

The Xiaomi Mi 11 series is to be launched on December 28 and it appears Xiaomi has already secured a sales smash hit with its latest production, regardless of the fact that there will be no charger in the box for this member of the Xiaomi Mi family. Xiaomi and Redmi devices have a tendency to rake in the cash for the OEM’s coffers and the Mi 11 smartphone is going to be no different judging by the amount of preorders it is attracting.

At the time of writing, has over 226,000 bookings for the Xiaomi Mi 11, and it doesn’t seem too far-fetched to believe that figure will soon reach quarter-of-a-million. The Chinese retailer has an astronomical price tag of 9,999 yuan (US$1,528) on the Mi 11 product page, although this is clearly a placeholder as the official prices for the Mi 11, Mi 11 Pro, and expected third device have yet to be revealed.

The rumored price range for the Xiaomi Mi 11 smartphones goes from 4,500 yuan (US$688) for a potential 8 GB + 128 GB regular model to 5,299 yuan (US$810) for the base variant of the Mi 11 Pro. Presuming an average purchase price of around 4,900 yuan (US$749) and each of those 226,116 bookings ends in a sale then the Mi 11 range will bring in 1.1 billion yuan (US$169 million) almost straight away! Chinese media site MyDrivers concludes that sales for the Xiaomi Mi 11 range could start as soon as January 1, 2021.

Buy the Xiaomi Mi Note 10 Lite on Amazon

Over 226,000 "appointments". (Image source:
Over 226,000 “appointments”. (Image source:

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Britain in talks with 6 firms about building gigafactories for EV batteries



Britain is in talks with six companies about building gigafactories to produce batteries for electric vehicles (EV), the Financial Times reported on Wednesday, citing people briefed on the discussions.

Car makers Ford Motor Co and Nissan Motor Co Ltd, conglomerates LG Corp and Samsung, and start-ups Britishvolt and InoBat Auto are in talks with the British government or local authorities about locations for potential factories and financial support, the report added .


(Reporting by Kanishka Singh in Bengaluru; Editing by Himani Sarkar)

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EBay to sell South Korean unit for about $3.6 billion to Shinsegae, Naver



EBay will sell its South Korean business to retailer Shinsegae Group and e-commerce firm Naver for about 4 trillion won ($3.6 billion), local newspapers reported on Wednesday.

EBay Korea is the country’s third-largest e-commerce firm with market share of about 12.8% in 2020, according to Euromonitor. It operates the platforms Gmarket, Auction and G9.

Shinsegae, Naver and eBay Korea declined to comment.

Lotte Shopping had also been in the running, the Korea Economic Daily and other newspapers said, citing unnamed investment banking sources.

South Korea represents the world’s fourth largest e-commerce market. Driven by the coronavirus pandemic, e-commerce has soared to account for 35.8% of the retail market in 2020 compared with 28.6% in 2019, according to Euromonitor data.

Shinsegae and Naver formed a retail and e-commerce partnership in March by taking stakes worth 250 billion won in each other’s affiliates.

($1 = 1,117.7000 won)


(Reporting by Joyce Lee; Editing by Edwina Gibbs)

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Canada launches long-awaited auction of 5G spectrum



Canada is set to begin a hotly anticipated auction of the mobile telecommunications bandwidth necessary for 5G rollout, one that was delayed more than a year by the pandemic.

The 3,500 MHz is a spectrum companies need to provide 5G, which requires more bandwidth to expand internet capabilities.The auction, initially scheduled for June 2020, is expected to take several weeks with Canadian government selling off 1,504 licenses in 172 service areas.

Smaller operators are going into the auction complaining that recent regulatory rulings have further tilted the scales in the favour of the country’s three biggest telecoms companies – BCE, Telus and Rogers Communications Inc – which together control around 90% of the market as a share of revenue.

Canadian mobile and internet consumers, meanwhile, have complained for years that their bills are among the world’s steepest. Prime Minister Justin Trudeau’s Liberal government has threatened to take action if the providers did not cut bills by 25%.

The last auction of the 600 MHz spectrum raised C$3.5 billion ($2.87 billion) for the government.

The companies have defended themselves, saying the prices they charge are falling.

Some 23 bidders including regional players such as Cogeco and Quebec’s Videotron are participating in the process. Shaw Communications did not apply to participate due to a $16 billion takeover bid from Rogers. Lawmakers and analysts have warned that market concentration will intensify if that acquisition proceeds.

In May, after Canada‘s telecoms regulator issued a ruling largely in favour of the big three on pricing for smaller companies’ access to broadband networks, internet service provider TekSavvy Inc withdrew from the auction, citing the decision.

Some experts say the government has been trying to level the playing field with its decision to set aside a proportion of spectrum in certain areas for smaller companies.

Gregory Taylor, a spectrum expert and associate professor at the University of Calgary, said he was pleased the government was auctioning off smaller geographic areas of coverage.

In previous auctions where the license covered whole provinces, “small providers could not participate because they could not hope to cover the range that was required in the license,” Taylor said.

Smaller geographic areas mean they have a better chance of fulfilling the requirements for the license, such as providing service to 90% of the population within five years of the issuance date.

The auction has no scheduled end date, although the federal ministry in charge of the spectrum auction has said winners would be announced within five days of bidding completion.

($1 = 1.2181 Canadian dollars)


(Reporting by Moira Warburton in Vancouver; Editing by David Gregorio)

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