Lei Jun, founder and CEO of Xiaomi Corp, holds a newly?unveiled Mi TV smart board on October 19, 2015 during a product launch event in Beijing. [Photo provided to chinadaily.com.cn]

In its quest to compete in the country's smart living room market, Chinese smartphone maker Xiaomi released its thinnest television in company history.

Lei Jun, founder and CEO of Xiaomi Corp introduced the new 60-inch 4K display, measuring 11.6 mm, Mi TV 3, at the product launch event Monday in Beijing.

The Mi TV 3 offers a high color gamut, MMEC motion compensation at a competitive price -- 4,999 yuan ($786).

Lei pointed out that the display of a normal smart television accounts for 70 percent of the entire cost of the device. According to Moore's law, an upgrade to smart TVs comes every 18 months.

 

"To detach the motherboard from the general body of the tele is able to reduce the upgrade cost of costumers," said Lei.

Priced at 999 yuan, the Mi TV smart board (the motherboard of the new smart TV) can be purchased separately from the 60-inch display. The smart board also houses built-in speakers in a full-metal body design.

During the event, the company also launched a brand new Bluetooth voice remote control with motion sensitive functions.

Last year, Xiaomi invested in Ninebot, a self balancing short walking robot, who later announced its acquisition of Segway, the industrial scooter manufacturer.

Lei Jun, founder and CEO of Xiaomi Corp, rides a newly unveiled scooter -- Ninebot mini on October 19, 2015 during a product launch event in Beijing. [Photo provided to chinadaily.com.cn]

With speeds of up to 16 km per hour, the Ninebot mini, which is described as the Xiaomi's knee-high Segway, was announced at the event.

Retail price for the Ninebot mini starts at 1,999 yuan. It weighs 12.8 kg and fits easily in the trunk of a car. The device runs 22 kms on a single charge.

The company did not comment on the Mi 3 TV and the Ninebot mini availability for international purchases.