China-based smartphone manufacturer Xiaomi has announced the launch of Ninebot Mini, a Segway-like personal transport device for 1999 RMB ($314 USD). Segway’s electric vehicle company was founded in 2001, and was later acquired by its young Chinese imitator Ninebot in this April. Followng the acquisition of Segway Ninebot said its products are locally developed and manufactured in China and it will continue to independently own the intellectual rights. Xiaomi’s Ninebot mini and its disruptive price tag are evidence that the company is looking to expand in the low-cost consumer market, the same strategy they employ in smartphones. The Ninebot Mini has a knee-high steering stick instead of a Segway-like handle.