Chinese smartphone brand Xiaomi has announced the launch of a youth version of its product with retail price of CNY1,499.

The company said it will open the sales of 150,000 units and only those who booked before May 18, 2012 can get the smartphones.

The standard version Xiaomi currently under sales has a 1.5GHz dual-core processor, a 4-inch screen, a eight million pixels camera, a 1930mAh battery, 1GB RAM, 4GB ROM, and the retail price of CNY1,999; while the youth version Xiaomi adopts a 1.2GHz dual-core processor, a 4-inch screen, a eight million pixels camera, a 1930mAh battery, and the retail price of CNY1,499. In addition, like the standard version, the youth version is produced on Inventec's product lines with the same production standards.

Lei Jun, founder of Xiaomi, said that the youth version mainly targets students in China. Since the launch of Xiaomi, the product is widely praised by students. To return the supports of this user group, the company decides to launch this special youth version.

Statistics revealed by Xiaomi show that the company currently achieves a monthly shipment of over 500,000 units, and their monthly revenue is over CNY1 billion. By May 10, 2012, more than two million units of Xiaomi smartphones had been shipped. By the end of this year, Inventec's Xiaomi production capacity will be over one million units each month.