Xiaomi reimburses those who pre-ordered the Mi 1 in full
Xiaomi launched the Mi 1, an Android device back when the OS supported 4-inch displays and capacitive front-facing buttons, which it sold for just 1,999 yuan. This markedly affordable price (for back then) netted the OEM an estimated 184,600 orders and about 370 million yuan. This sum, however impressive for a first-gen product, is now considerably less so compared to reported takings for its distant descendant the Mi Mix 4 in 2021.
Xiaomi has decided to celebrate this success by offering the Mi 1's original price (~US$309 at present) back to those who preordered it on mi.com in the first place. Whether the device in question is still around or not, all they need is the Mi ID used to do so, which will reportedly gain them this sum back in the form of store credit.
This stunt, as the venture-capitalist Hanson Hu has noted, could cost Xiaomi as much as US$57 million. However, it might just be worth it for the customer goodwill - not to mention the publicity - involved. After all, the OEM has now risen to wild success in its industry with leading positions in several markets off the back of the Mi 1 and those who bought it.