Xiaomi has made its name by offering phones that could be seen as value-for-money in the past. However, its CEO, Lei Jun, has unveiled plans that involve the company turning its back on this strategy in the future. He has said that "this might be the last time our price will be under RMB 3,000 (about US$447)".
https://www.notebookcheck.net/Xiaomi-may-abandon-the-more-budget-friendly-ends-of-its-market-in-the-future-company-CEO.413710.0.html