Xiaomi Corp. on Tuesday said it will launch new midrange smartphones in South Korea as the Chinese tech giant tries to beef up its presence amid rumors that the country's homegrown brand LG Electronics Inc. may exit from the mobile business.

Xiaomi said the Redmi Note 10 will be released in South Korea on March 30 at 218,000 won ($190), while the Redmi Note 10 Pro will hit shelves on April 9 at 319,000 won.

The Redmi Note 10 Pro comes with a quad rear camera setup that includes a 108-megapixel main shooter. Powered by Qualcomm's Snapdragon 732G chipset, it features a 6.67-inch screen supporting 120Hz refresh rate and packs a 5,020mAh battery.

The Redmi Note 10 also has four cameras on the back, including a 48MP main sensor, and features a 6.43-inch display.

Industry observers said Xiaomi is likely to ramp up its push in South Korea this year to take over market share from LG, which has been considering withdrawing from the smartphone business.

According to market tracker Counterpoint Research, LG was South Korea's third-largest smartphone vendor last year with a share of 13 percent.

Samsung Electronics Co. was the dominant player on its home turf with a market share of 65 percent, followed by Apple Inc. with a 20 percent share.

Analysts predicted that Xiaomi will target local consumers with midrange smartphones with high-quality specs.

Counterpoint Research data showed smartphones priced $400 or below represented 41 percent of South Korea's smartphone market in 2020, up from 34 percent a year earlier.

Meanwhile, Xiaomi said it will also release TVs in South Korea. The Mi TV 4S will come in 65- and 55-inch sizes here with price tags of 849,000 won and 649,000 won, respectively. (Yonhap)