An anonymous reader writes: Chinese consumer electronics company Xiaomi has officially journeyed into the drones product category. The Xiaomi Mi Drone is a quadcopter with a three-axis gimbal, 4K camera, and a remote control that uses your Mi smartphone as a viewfinder. The 4K version retails for about $460 while the 1080p model retails for about $380. When compared to drones from DJI or Yuneec, the Mi Drone seriously undercuts them as they typically retail for more than $1,000. Some other features of the Mi Drone center around modularity and serviceability -- the camera module and rotors are detachable. The 5,100 mAh battery that Xiaomi claims can last 27 minutes of continuous flight time on a single charge is also replaceable. It uses GPS and GLONASS for positioning. It even features a visual positioning system on the rear that allows itself to remain stable when flying at low altitudes in environments where a satellite signal cannot be reached. Some of the autonomous flight modes include: takeoff, landing, return to home, waypoint navigation and orbit, with the ability to create a geofence to limit its movement. The 1080p Mi Drone "will be crowdfunded on the Mi Hope app starting May 26, 2016," while the 4K Mi Drone "will be available for testing via an open beta program at the end of July." With such an affordable price tag relative to the competition, the Xiaomi Mi Drone may help increase revenues for the company whose sales barely grew last year.