Xiaomi Inc, inarguably Apple Inc's toughest competitor yet in China, has introduced the Mi3 smartphone handset along with an accompanying video.

Xiaomi, Apple of China, Introduces Mi3 Smartphone Video

Debuted just five days ahead of Apple's iPhone 5C, the Mi3 smartphone handset is priced cheaper than the latter - $330 versus $728.

Xiaomi's Mi3 has the following specifications:

  • 5-inch IPS display with 1080p resolution and ultra-sensitive touch
  • 1.8 Ghz quad-core Nvidia Tegra 4 processor or 2.3Ghz quad-core Qualcomm Snapdragon 800 processor
  • 2GB RAM
  • 16/64GB internal storage
  • 13MP Sony Exmore RCMOS rear camera, 2MP front camera
  • 3,050 mAh battery
  • MIUI ROM

It is set to be released in batches, starting from mid-October.

Video Source: Youtube/ Xiaomi China

ITProPortal.com, which recently was able to examine a prototype, noted the following observations:

"The body feels a lot like a Nokia Lumia 920: It's heavy, with smooth rolled edges, a big glass screen and a broad speaker grille on the flat bottom of the phone. The 5in 1080p screen speaks to a country where smartphones are growing as the primary method of Internet access, and folks want big windows onto the world."

Xiaomi, Apple of China, Introduces Mi3 Smartphone Video

"Screen transitions were a little jerkier than expected with the powerful Tegra 4 processor, for one thing. The speaker made the whole bottom of the phone vibrate in a surprising way. And several of Xiaomi's custom apps quit upon launch. While the Mi3 looks great before you turn it on, after about five minutes it didn't feel like it had the finish of the latest top-of-the-line phones from Samsung, HTC, and Apple."

Read: Can Apple Finally Topple Xiaomi? Succumbs to Competition, Launches Low-Cost iPhone 5c Smartphone Exclusive to China

Still, the online portal reserved to make any conclusive statements.

"If it is indeed buggy, it'll show whether Chinese consumers are willing to put up with some bugs to get something that's kind of like an aspirational smartphone, but at a more affordable price."