CHENGDU, Dec. 28 (NBD) -- China's homegrown telecommunication manufacturer Gionee launched its new product M2017 on Monday.

M2017 with 128GB storage is priced at 6,999 yuan (about 1,014.35 US dollars) and it charges 16,999 yuan (about 2463.62 US dollars) for the tailored version with 256GB storage.

Gionee expressed that though homegrown producers are on the rise, foreign mobile brands play a dominant role in high-end market still. The company's move to launch the costly merchandise reflects its target to develop in high-end market, as it's widely recognized that brand premium is critical for companies to survive.