If Xiaomi's first ever drone is going to make an impact then it needs to follow the company's winning game plan to date: quality products at cheap prices. Well, according to a report from Bloomberg, the 4K video-enabled Mi Drone will be priced at 4,000 yuan or $610. That's nearly 25 percent cheaper than market leader DJI's similarly equipped $799 Phantom 3 4K.

But assuming this is the real price (or close to it), questions still remain. Is $610 enough of a price cut to earn Xiaomi a chunk of the extremely competitive consumer drone market? And will the device be a match for rivals' products in terms of reliability and ease-of-use? (Bloomberg says the Mi Drone will be made by third-party Chinese manufacturer FIMI Technology. Their frugal web presence suggests they're usually more at home making electric ovens.) We'll hopefully find out more tomorrow when Xiaomi finally unveils the drone.