The Xiaomi VR viewer has finally been revealed, and just as I said, it's nothing but a Google Cardboard viewer, of which there are already dozens available on the market. It's called Mi Play VR (shudder) and it's not even low cost, either.
XiaomiDevice.com . Even the price in Renminbi (Chinese currency) is about the same --- 194.74 yuan (around US$29).
Its most distinctive feature seems to be that the exterior is Lycra and can have prints such as flowers or a camo pattern.
Strangely, even after the reveal, some media continue to refer to it as a "Daydream" headset. (It might be for daydreaming, not Google Daydream.) Some have even compared it to Samsung Gear VR, which is ridiculous because Gear VR is an active headset with built-in electronics, far more precise and way beyond any Cardboard viewer.
However, kudos to Xiaomi's marketing department. They succeeded in generating buzz for something that would normally be ignored. Here is the official website for the Mi Play VR.