Chinese smartphone maker Xiaomi formally launched its second-generation smartphone product Xiaomi 1S a few days ago.

Xiaomi 1S, which means the super first generation, adopts Qualcomm's dual-core 1.7G CPU, a camera with two million pixels, and a rear camera with eight million pixels. The retail price of this new product is CNY1,499.

At the same time, the company revealed that the customized versions for telecom operators will be launched in September.

During the launch of the new product, Lei Jun, chairman and chief executive officer of Xiaomi, said that the accumulated sales of the first-generation Xiaomi smartphone had reached 3.52 million units. He also claimed that by the end of the second quarter of 2012, Xiaomi had become the third largest customer of Qualcomm in China, and it was the largest customer of Sharp in China.

With the launch of the second-generation Xiaomi, the price of the old generation will be reduced to CNY1,299.