Xiaomi sells 100,000 MiPhone 3 units in 83 seconds

(Credit: Xiaomi)

In typical Xiaomi fashion, the Chinese technology company sold the first batch of 100,000 MiPhone 3 (Mi-3)smartphones, and 3000 MiTV televisions at 12PM (GMT+8) through its Web site today. According to Xiaomi, its Mi-3 phones sold out in just 83 seconds, while its MiTVs were sold in 118 seconds.

The 16GB version of the Mi-3 retails for 1,999 yuan (US$327) and its 32GB version is sold for 2,499 yuan (US$410). Xiaomi's 48-inch MiTV Android smart TV sells for 2,999 yuan (US$490).

The timeframe within which Xiaomi manages to sell its devices has become something of a benchmark when it comes to gauging demand for Xiaomi's highly anticipated mobile devices in Asia.

In August, Xiaomi sold its first 100,000 Hongmi (Red Rice) smartphones -- Xiaomi's budget smartphone line -- in a matter of 90 seconds. With a history for experimentation, the company took to Chinese microblogging site, Sina Weibo, as an additional sales channel through a trial run that managed to sell 50,000 Mi-2 smartphones within a span of five minutes.

While the company has become known for its limited weekly sales of its devices, some analysts have criticized this practice as creating false demand for the devices. Xiaomi, however, has repeatedly shot back and defended its production strategy, as one that keeps the supply for its smartphones in balance with the demand without the risk of overstocking inventory.

To the testament of Xiaomi's popularity in China and abroad, Xiaomi co-founder Bin Lin explained toAllThingsD at D:Dive into Mobile that Xiaomi has been struggling to keep up with the demand of its smartphones. "We are working really hard to increase the capacity," Lin said.

Having sold 7.19 million devices in 2012, Xiaomi will more than double that figure this year as the company expects to sell 20 million smartphones -– up from its initial projection of 15 million smartphone sales in 2013.