Recently, topics such as "Xiaomi Photo Paper Costs 2 Yuan" and "Xiaomi Polaroid-like Camera" have garnered significant attention from consumers on the Weibo platform. According to Consumption Titanium, the "Xiaomi Polaroid-like Camera" being heatedly discussed by netizens is actually an accessory to Xiaomi's newly launched foldable phone, the Xiaomi MIX Flip – the Xiaomi MIX Flip Portable Photography Kit. With its stylish and slightly luxurious design, affordable photo paper, and multiple functions that traditional Polaroid cameras lack, the Xiaomi MIX Flip Portable Photography Kit has become a hot seller.

Behind the success of the Xiaomi MIX Flip Portable Photography Kit, the core accessory, the Mijia Pocket Photo Printer 1S, has played a pivotal role. Notably, with smartphones as the entry point and the goal of interconnecting everything, Xiaomi continues to develop its hardware ecosystem. Industry insiders believe that with the support of multiple advantages, the Mijia Pocket Photo Printer 1S is poised to rapidly gain a foothold in the instant photo printing market.

"Xiaomi Polaroid-like Camera" Gains Popularity

At Xiaomi's new product launch event on July 19th, the company unveiled a series of new products, including the Xiaomi MIX Flip and Xiaomi MIX Fold4. Alongside the Xiaomi MIX Flip, the Xiaomi MIX Flip Portable Photography Kit, which has recently garnered widespread attention, was also introduced.

The Xiaomi MIX Flip Portable Photography Kit includes the Mijia Pocket Photo Printer 1S, an interconnected leather case, and 5 sheets of photo paper, available in purple and green, priced at 499 yuan. Utilizing ZINK inkless printing technology, the kit eliminates the need for ink ribbons or cartridges. Instead, it employs embedded color dye-based crystals in the paper, which are heated by the print head to produce an image in a single pass. When connected to the Xiaomi MIX Flip, users can quickly print photos captured by their phones in the portable photography mode, achieving similar results to a Polaroid camera.

Consumption Titanium notes that as an accessory to the Xiaomi MIX Flip, the Xiaomi MIX Flip Portable Photography Kit is only compatible with this specific model. However, its luxurious and aesthetic design, along with its perfect fit with the Xiaomi MIX Flip's small foldable form factor, has attracted many consumers to rush for purchases. Some netizens commented on Weibo, "The Xiaomi MIX Flip Portable Photography Kit has successfully broken through its niche. Many of my friends have asked me if it's compatible with iPhone 15. The best part is that this kit allows for custom icons, captions, descriptions, and even comes with adhesive, all at an affordable price."

Consumption Titanium understands that currently, the Xiaomi MIX Flip Portable Photography Kit is out of stock on Xiaomi's official flagship stores and Xiaomi Mall.

Jiang Han, a senior researcher at Pangu Think Tank, points out, "The popularity of the Portable Photography Kit is closely related to its relatively affordable price. The pre-sale price of 499 yuan offers a high cost-performance ratio compared to similar products on the market, attracting a large number of consumers with a demand for photography and instant printing. This pricing strategy not only promotes product sales but also enhances Xiaomi's brand reputation and market influence among consumers."

Possessing Differentiated Advantages

Some netizens believe that the Xiaomi MIX Flip Portable Photo Set will be a boon for fans who love to follow their idols. “When attending autographed events, you can use the Xiaomi MIX Flip Portable Photo Set to take photos, edit them on the spot, and print them instantly. You can also take photos while getting autographs and later watch the scanned video playback.” Additionally, the photos printed using the Xiaomi MIX Flip Portable Photo Set feature "AR Photos," allowing you to scan the printed photo with your phone to automatically generate and play related videos.

Notably, unlike regular instant cameras, the photo paper used in the Xiaomi MIX Flip Portable Photo Set is more affordable, making it easier for enthusiasts who love instant photography to achieve "photo paper freedom."

Consumer Titanium has observed that the basic photo paper for instant cameras on the market is generally priced at over 4 CNY per sheet, with some colored or co-branded photo papers exceeding 20 CNY per sheet. In contrast, the photo paper for the Xiaomi MIX Flip Portable Photo Set costs only about 2 CNY per sheet. One netizen commented, “Xiaomi’s photo paper is exactly 1.98 CNY per sheet. Since Xiaomi entered the market, instant camera paper is suddenly no longer in short supply.” Another netizen remarked, “Instant cameras must be sweating bullets! If it were me, I'd definitely prefer to spend money on Xiaomi’s paper. After all, girls love taking photos, and with lower prices for photo paper, who needs anything else?”

The Xiaomi MIX Flip Portable Photo Set’s success in gaining popularity can be attributed to its core component, the Mijia Pocket Printer 1S.

The Mijia Pocket Printer 1S is a newly launched product. On the evening of July 19, the Mijia Pocket Photo Printer 1S went on sale. The entire device weighs only 180g, making it highly portable. Additionally, this pocket printer boasts multiple features, including customizable border watermarks, multi-user sharing, AR photos, self-adhesive backing, inkless printing, and instant printing capabilities.

It’s worth mentioning that the Mijia Pocket Printer 1S is compatible with any device. Users only need to download the Mijia App on their phones to use the Mijia Pocket Printer 1S. Priced at 399 CNY, the Mijia Pocket Printer 1S is also currently out of stock at Xiaomi’s official flagship store.

Industry experts believe that the combination of more diverse features and cheaper photo paper gives the Mijia Pocket Printer 1S a differentiated edge in the instant camera market. With these multiple advantages, the Mijia Pocket Printer 1S is expected to quickly secure a significant position in the instant camera market.

Building a Hardware Ecosystem

In fact, Xiaomi launched the Mijia Photo Printer as early as 2018. Compared to the current version, the Mijia Photo Printer at the time was larger and not convenient to carry.

Industry experts point out that the upgrade from the Mijia Photo Printer to the Mijia Pocket Printer 1S highlights Xiaomi’s continuous refinement of its products and its deep understanding of consumer needs.

It is worth mentioning that Xiaomi has been persistently building its hardware ecosystem with the smartphone as the entry point and aiming for the interconnection of everything. It has successively developed routers, tablets, laptops, smart TVs, smart home and appliance products (including smart air conditioners, washing machines, refrigerators, rice cookers, vacuum cleaners, ovens, water purifiers, robot vacuums, smart locks, etc.), wearable devices (such as Xiaomi watches and wristbands), electric scooters, and various other smart hardware products and accessories.

Moreover, through its phones, smart hardware, and support systems like MIUI, cloud services, and Xiao Ai smart speakers, Xiaomi has built a self-contained smart life ecosystem. It is reported that a loyal Xiaomi fan might have 30-40 Xiaomi smart devices in their home.

According to Xiaomi’s 2023 annual financial report, as of December 31, 2023, the number of connected devices on Xiaomi's AIoT platform (excluding smartphones and laptops) reached 740 million. Xiaomi has become one of the leading companies in the smart Internet of Things (IoT) sector. In the fiscal year 2023, Xiaomi’s IoT and lifestyle products segment generated a revenue of 80.1 billion CNY, accounting for approximately 29.6% of the total revenue.

Industry insiders believe that as part of Xiaomi’s hardware ecosystem, the Xiaomi MIX Flip Portable Photo Set leverages Xiaomi’s accumulated resources and expertise in the smart hardware field, achieving excellent synergy with smartphones and making it more competitive in the market.

Jiang Han pointed out that Xiaomi’s strategy of developing a wide range of products and building an intelligent ecosystem meets the increasingly diverse needs of consumers. By offering a variety of products, Xiaomi provides a more comprehensive and convenient smart living experience for its customers. Additionally, the interconnectivity between different product categories allows Xiaomi to create a large user base and ecosystem, enhancing user stickiness and loyalty, thus placing itself in a favorable position in the fierce market competition. The smart ecosystem also brings more business opportunities and profit models for Xiaomi, driving the company’s continuous growth and expansion.

Last December, a dispute erupted around the esteemed brand of Oriental Select—who wrote the "little essay." Fans vehemently defended Dong Yuhui, arguing that Oriental Select was undermining Dong Yuhui's contributions. Following the controversy, Sun Dongxu, the CEO of Oriental Select at the time, issued an apology, which in turn sparked a new wave of controversy, including discussions about "holding meetings for fans," "throwing phones," and mentions of "fan circle behaviors."

Subsequently, Dong Yuhui issued a lengthy response, emphasizing his opposition to fan circle culture and rejecting the stigmatization of anyone under the guise of "fan circles."

The intensity of the dispute stemmed from fans' perception that Dong Yuhui was becoming increasingly undervalued.

Since November of last year, Dong Yuhui's live streaming sessions have become less frequent, and he has withdrawn from the prime time slot of 7-10 PM. Additionally, the Oriental Select book channel removed the "Recommended by Yuhui" label, and the brand's steak products no longer featured the "Square-faced Teacher" Dong Yuhui's image.

Within New Oriental, Dong Yuhui's status is not as exalted as the public's adulation suggests. During New Oriental's 30th anniversary celebration, it was reported that Dong Yuhui couldn't gain entry without a ticket and only managed to attend through the coordination of Yu Minhong.

This situation is entirely different from other live-streaming e-commerce MCN (Multi-Channel Network) organizations. The MCNs behind Li Jiaqi, Xiao Yangge, and Xinba amplify online effects centered around the anchors' IPs, and these top-tier anchors wield far more influence than Dong Yuhui.

The "little essay" incident ultimately concluded with the establishment of a new platform "Walking with Hui," which Dong Yuhui was given full authority to oversee.

2. "Walking with Hui" Has Grown Its Wings

At this moment of parting, "Walking with Hui" has fully spread its wings.

On July 21st, during the first live broadcast after moving to the new office, "Walking with Hui" soared to the top of the sales leaderboard in just 10 minutes. When Dong Yuhui appeared, the number of online viewers in the live stream surged to 515,000. According to data from Kaogu Jia, the sales from this live broadcast reached a staggering 50-75 million yuan.

In fact, since its debut on January 9th this year, the sales capabilities of "Walking with Hui" have been widely acknowledged.

According to Feigua data, in the first five months of this year, "Walking with Hui" achieved sales of 932 million, 411 million, 620 million, 538 million, and 533 million yuan respectively, surpassing Oriental Select.

In contrast, Oriental Select has experienced a decline. According to Feigua data, in the June Douyin (TikTok) top sales influencers ranking, "Walking with Hui" ranked second with 573 million yuan in sales, while Oriental Select only achieved 210 million yuan, placing 11th. This was the first time this year that Oriental Select fell out of the top ten monthly sales influencers.

Not only do the sales figures far exceed those of Oriental Select, but "Walking with Hui" also retains the early cultural live streaming style of Oriental Select.

For example, they have discussions on management with industry leaders like Zhang Ruimin (founder of Haier) and Yu Chengdong (Huawei). They talk about literature with writers like Chen Xingjia and Liang Xiaosheng. They also discuss films with celebrities like Andy Lau and Ning Hao.

However, amidst these conversations, products are being sold. For instance, during the interview with Huawei's Yu Chengdong, sales exceeded 100 million yuan. A literary discussion with Liang Xiaosheng and Cai Chongda resulted in nearly one million copies of People’s Literature magazine being sold in four hours. A film chat with Andy Lau led to 600,000 movie tickets being sold out in seconds.

Over the past two years, competition in live-streaming e-commerce has evolved from a focus on products to a focus on content.

Industry insiders have analyzed for Growth Workshop that the current live-streaming industry is plagued with severe homogenization, with no significant differences in products or prices across various live-streaming rooms. Without achieving differentiation through content, it is difficult to stand out. It is precisely because these content-driven live-streaming rooms can provide emotional value to users that they are willing to make purchases.

"Walking with Hui" has retained the characteristics of previous content-driven live streams, whereas Oriental Select has changed.

In June of this year, the topic "Oriental Select's live streaming style changed after Dong Yuhui left" became a trending topic. Hosts were aggressively promoting their products, saying things like, "Since you're here, why not make a purchase before you go?" and "3, 2, 1, link up!" This disappointed many netizens who commented, "How did the most culturally rich live stream in the entire network turn into this?"

Now, "Walking with Hui," having separated from Oriental Select, will completely become an MCN (Multi-Channel Network) organization. Dong Yuhui's position as a super host is comparable to Li Jiaqi for Meione or Xiao Yang for Three Goats, perhaps even surpassing them, especially considering he now owns 100% of the shares.

However, "Walking with Hui" is not without its shortcomings.

Previously, "Walking with Hui" shared its supply chain with Oriental Select, but will now need to build its own supply chain. It is believed that this issue will be resolved quickly. After all, in an era where supply exceeds demand, a super IP that can sell products is the core advantage. The back-end supply chain capability is a valuable resource but not a scarce one.

In the future, Oriental Select will face direct competition from "Walking with Hui."

There is significant overlap in the product categories for their live-streaming sales. In "Walking with Hui's" top categories, food and beverages, smart home products, and fresh produce rank highest, which is also true for Oriental Select.

3. Oriental Select is Wobbling

The stock price of Oriental Select has always been closely tied to Dong Yuhui.

For example, during the three trading days following the fermentation of a certain incident, Oriental Select’s stock price fell by 19%, wiping out nearly 6 billion yuan in market value. Events such as Dong Yuhui clearing his Weibo content due to issues with the lingerie category, his aversion to being labeled an internet celebrity, and his resistance to selling products have all impacted the stock price.

To those who appreciate Dong Yuhui, this behavior is seen as genuine. However, Oriental Select is a public company that needs to be accountable to its shareholders. Dong Yuhui, as both a partner and a core asset, has caused significant fluctuations in Oriental Select's market value with his statements, which investors do not see as responsible behavior.

Losing Dong Yuhui will undoubtedly bring another shock to Oriental Select's stock price. The recently announced buyback plan by Oriental Select is not unrelated to this.

At least, this gives Oriental Select a chance to pursue a more controllable path, similar to how Qianxun managed after Viya stopped live streaming, or how "Make Friends" moved on from Luo Yonghao.

On this path, Oriental Select can still have top-tier hosts, mid-tier hosts, and smaller hosts, with clear hierarchies. However, the importance of the "top" needs to be controlled to such a level that losing the top host would not be a critical blow but rather a superficial wound that can quickly heal, with new hosts easily stepping up.

Oriental Select understands better than anyone the importance of not putting all eggs in one basket and the significance of diversifying risk.

Firstly, Yu Minhong realized early on that "a bustling business model built on external platforms is highly vulnerable." Therefore, even before the rift with Douyin became apparent, he launched his own app.

Secondly, Oriental Select has always employed a multi-channel strategy, establishing a presence on platforms like WeChat Channels and Taobao.

Thirdly, they are not content with merely leveraging traffic; they aim to delve upstream by utilizing their traffic, such as venturing into agricultural products and extending their business concepts in culture and tourism to include offline travel agency services.

Of course, risk diversification also includes cultivating more hosts.

However, Oriental Select faces another significant issue—it is not just a sales channel; it is also a brand.

Aside from traffic factors, Oriental Select is different from other platforms like Make Friends, Qianxun, and Yowant.

The proportion of self-operated products in Oriental Select's GMV has increased from 20% to around 30%, and it constitutes an even higher proportion of their revenue—nearly 70%.

Sun Dongxu also mentioned that their future plan is to keep the proportion of self-operated products within GMV under 50%, indicating there is still room for growth.

Building a brand aims at earning brand premiums, which is different from earning commissions by selling third-party products. To boost sales through commissions, negotiating lower prices is often a strategy, with less concern for impacting the upstream supply chain's interests.

Building a brand is a long-term endeavor with key elements for success: product differentiation and storytelling. Under the concept of cost-effective consumption, a price advantage among similar products can be an additional factor, but this is not the path Oriental Select has chosen.

Oriental Select’s popular products are usually common categories, like sausages, with the differentiation being simple ingredients and solid materials. However, many self-operated categories are not produced in their own factories but rely on private labeling.

On one hand, commonly produced categories in the form of OEMs (Original Equipment Manufacturers) are relatively easy to imitate, so the sales of self-operated products require the added boost of "brand strength." On the other hand, even if the product itself is superior to similar items, it still needs a highly effective host like "Dong Yuhui" to publicize its unique selling points.

Storytelling and emotional appeal have already become tags for Oriental Select.

In other words, beyond just selling products, hosts at Oriental Select also bear the responsibility of brand building.

An example of ineffective brand building is Li Jiaqi's justification for why the Huaxizi eyebrow pencil costs 79 yuan. A positive example is when Li Jiaqi, in his early stages of live streaming, showcased the unique beauty of different lipstick shades. Another example is when Dong Yuhui, questioned about whether selling corn at 6 yuan was too expensive, could add extra value by discussing "low grain prices hurting farmers" or reminiscing about "childhood times."

Some might argue that other hosts at Oriental Select don't have the same scholarly aura, can't articulate as well, or can't fulfill the responsibilities of brand building as effectively.

That's not the case.

Nowadays, consumers make purchasing decisions based not only on the promotional efforts and recommendations from brands and influencers but also on experiential sharing and spreading between individuals. Loyal fans of the hosts are increasingly becoming a crucial part of the brand's voice and promotion.

Building the brand strength of Oriental Select requires not only satisfying products but also the acceleration provided by these fans in brand building. Progressing on both fronts ensures speed and stability.

Losing Dong Yuhui would be like losing a leg for Oriental Select, potentially requiring a long "recovery period."