The main differences between the Xiaomi Mi Bedside Lamp 2 and the first version of the lamp are as follows:

- Smart Home Compatibility: The Mi Bedside Lamp 2 is compatible with a wider range of smart home ecosystems, including Amazon Alexa, Google Assistant, and Apple HomeKit, whereas the first version may have limited or no smart home integration.
- Color Options and Dimmability: The Mi Bedside Lamp 2 offers 16 million colors and is infinitely dimmable, which is an upgrade from the first version. It also includes touch control and app control, enhancing user convenience.
- Energy Efficiency and Lifespan: While both lamps are energy-efficient LED lamps, the Mi Bedside Lamp 2 has a specified lamp service life of 25,000 hours and an energy efficiency class of B. The improvements in LED technology and design may result in better performance and longevity compared to the first version.
- Design and Materials: Although both lamps may look similar, the Mi Bedside Lamp 2 is made from glass and plastic, and it has a modern design. Any changes in materials or design elements could contribute to the slight price difference.

These enhancements in smart features, color options, and energy efficiency are likely the reasons for the price difference between the two versions.