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I have the regular non-lite version. It's an absolutely outstanding projector except for two short comings:
1. Cannot play 4K videos. I had to buy a separate Xiaomi 4K TV box to play 4K videos smoothly thru the projector. Xiaomi cheaped out on the 1080p-only CPU becoz maybe they expect you to buy their TV box too.
2. Peoples skin tone are off. After a while you get used to it. BUT if you're coming from a better quality projector, you will notice the bad skin tones right away.
3. Cannot render dark scenes. The contrast needs to be higher than 1000:1, which in reality is more like 500:1.
I hope they could address these issues in their 2025 next version and if they do there's actually no point getting a Hisense 4K laser projector costing 10-20x more! But that's a far fetch! 1080p is perfectly fine for watching 4K videos from a 4K capable TV box, which is what I do with my Redmi projector anyways.
A new Xiaomi Redmi Projector Lite version is now available in China. The cheaper device is compact, with a 1080p resolution and a maximum image size of 100 inches (~250 cm). Other features include an automatic keystone correction and focus tools, a built-in speaker and various connectivity options.