Xiomi, a Chinese company known for selling affordable Android smartphones, announced the launching of Ninebot Mini, a self-balancing scooter or “hoverboard.”

In April, Xiaomi invested $80 million in Ninebot, a scooter maker that acquired its American competitor, Segway for an undisclosed amount.

Xiaomi Just Launched A $316 Hoverboard

Ninebot pricing strategy is similar to Xiaomi

Ninebot boasted that its mini self-balancing scooter was “quarter of the price” of its competitors in China. Currently, the Ninebot Mini is only available in China, and it costs $316 or 1,999 yuan. Technology observers noted that Ninebot was using the same pricing strategy that made Xiaomi popular.

The Ninebot Mini has a knee-high handle, which is called by Xiaomi as a steering stick, which is integrated with the Leansteer technology that detects the movement of the rider’s legs and predicts where they want to go.

Riders can also control the movement of the Ninebot Mini using a mobile app. According to Xiaomi, the self-balancing scooter can travel 22 kilometers on a single charge at a top speed pf 16 kilometers (approximately 10 miles) per hour. It can also go up to 15-degree slopes. The Ninebot weighs only 12.8 kgs, but it can carry a weight of up to 85 kgs.

The Ninebot Mini is Xiaomi’s first personal mobility device under Ninebot, its portfolio company.

Xiaomi unveils new smart TV

In addition to the Ninebot Mini, Xiaomi also launched a new smart TV called Mi TV 3 to its product lineup. The Mi TV 3 is a larger version (60-inch) of its smart TV that comes with an LG 4K display.

According to Xiaomi, the screen of the Mi TV 3 has a color gamut of NTSC 85% and MEMC motion compression. It offers super clear motion images.

The Mi TV 3 is integrated with a main board that connects to the smart Tv’s display with a single wire, and it can be replaced separately without the need to purchase a new smart TV.

Xiaomi’s new smart TV is powered by its MIUI operating system, which is based on Google’s Android operating system. The Mi TV 3 sports an aluminum frame and a metal backplate. The new smart TV costs $786 or 4,999 yuan in China.