The Chinese electronic device manufacturer company, Xiaomi, recently launched its latest device, Mi drone, with astonishingly cheap prices. The new drone also has some high-end specs and features installed in it like a 4k camera. But, even if the price of the new Xiaomi drone is low as compared to their competitor's device, few reports suggest that there is no guarantee that the new product would work wonders for the company.

NDTV reported that drones generally attract few customers as compared to other devices like smartphones and fitness trackers. Few analysts have claimed that Xiaomi is currently in a dicey situation, where the success of Mi drones is not known. It is reported that if the company's drones don't sell as expected, then Xiaomi's efforts to launch a new product would be useless.

Further, it is also stated that if Xiaomi's low priced drones get a hold of the consumer market, then it would finally make the concept of household drones popular. However, BBC News reported that Xiaomi will only be able to earn short-term profits from the drones' sale.

Moreover, the analysts reported the possibility that many other players will enter the drones market with even more cheap prices. Thus, this situation is expected to pose a huge threat to Xiaomi in the near future. It was reported that earlier, Huawei harmed Xiaomi's number one position in the market by copying its online sales strategy for smartphones.

The Verge reported that if the competition circumstances arise in the future, then the company's Mi drones would not be able to generate much profit. There are reports that Xiaomi will also have to look into different strategic options and change its business plan if the company wants to earn larger profits and become the top drones' vendor in the global market.

Meanwhile, Xiaomi is known worldwide for its smartphones range, Yi action camera, Mi Box, and an Android TV-powered set-top box, reported EN Gadget. The latest Mi drones consist of 1080 camera with a 16-megapixel Sony sensor while the 4K version uses a 12-megapixel sensor to record at 3,840x2, 160-pixel resolution.

In addition, the Xiaomi Mi drones have 27 minutes of flight time with a 5,100 mAh removable battery. Also, there are reports that the Mi drones provide GPS support for accurate positioning outside