Core Insights - Xiaomi officially launched the Xiaomi 17 series smartphones on September 25, 2025, featuring the Qualcomm Snapdragon 8 Gen 5 processor, built on TSMC's 3nm process, with a peak frequency of 4.6GHz and a 10% reduction in power consumption compared to the previous generation [3] - The pricing strategy of "more for less" positions the Xiaomi 17 standard version starting at RMB 4,499, the 17 Pro at RMB 4,999, and the 17 Pro Max at RMB 5,999, effectively covering the high-end market segment priced between RMB 5,000 and 7,000, demonstrating Xiaomi's commitment to high-end product offerings [3] - In the innovation sector, Xiaomi improved the YU7 basic version's range from approximately 620 kilometers to 835 kilometers, maintaining the same price point, which enhances product competitiveness [3] - Xiaomi's founder, Lei Jun, emphasized the need for an investment of at least RMB 50 billion and a commitment of at least ten years for chip development [3] - Overall, Xiaomi is expanding its product line with a focus on value for money, which aligns with consumer expectations for Xiaomi products [3]

Group 1 - Morgan Stanley reports that Xiaomi Group-W (01810) launched its flagship smartphone series, the Xiaomi 17, which includes three models: 17, 17 Pro, and 17 Pro Max [1] - The Pro and Pro Max models feature a new rear display, representing an innovative design that, combined with high product quality and attractive pricing, is expected to lead to better-than-expected sales performance [1] - Morgan Stanley maintains an "Overweight" rating on Xiaomi Group with a target price of HKD 62, positioning the stock as a top pick in the industry [1] Group 2 - Xiaomi has initiated a "customization service" in its electric vehicle business, offering five new custom colors, two new interior designs, and additional features such as custom logos and seat belts [1] - Although the initial production is limited to only 40 vehicles per month, this customization service is anticipated to become a key competitive advantage for Xiaomi's electric vehicles [1] - As the utilization rate of the new electric vehicle factory increases, the customization service is likely to expand to most models, helping Xiaomi maintain a steady flow of new orders [1]

Core Insights - Xiaomi launched the Xiaomi 17 series, including Xiaomi 17, Xiaomi 17 Pro, and Xiaomi 17 Pro Max, on September 25, with pre-sales starting on the Vipshop platform and availability from September 27 [1][2] - The starting prices for the Xiaomi 17 series are 4499 yuan, 4999 yuan, and 5999 yuan respectively, with a 12-month interest-free installment option available on Vipshop [1][2] - The Xiaomi 17 series features the new Xiaomi Surge OS 3 and includes significant innovations such as a secondary display on the back of the Pro and Pro Max models, enhancing user experience [1][2] Product Specifications - The entire Xiaomi 17 series is powered by the fifth-generation Snapdragon 8 processor, with the Pro Max model featuring a Leica triple-camera setup, including a 50MP main camera and 5x optical zoom capabilities [2] - Battery capacities are approximately 6300mAh for the Xiaomi 17 Pro and 7500mAh for the Pro Max, both supporting 100W wired and 50W wireless fast charging [2] - The series is considered a major leap in Xiaomi's smartphone evolution, with industry experts viewing it as a direct competitor to Apple's high-end offerings [2] Market Positioning - Xiaomi 17 series is positioned as a flagship product aimed at the high-end market, marking a significant transformation for the brand over the past five years [2] - Vipshop has become a key partner for Xiaomi, with a notable demographic shift where over 70% of Xiaomi product purchasers on the platform are female [2]

智通财经APP获悉，摩根士丹利发布研报称，小米集团-W(01810)周四(25日)发布其旗舰智能手机——小 米17系列，包括三款型号——17、17 Pro及17 Pro Max。Pro及Pro Max型号配备全新后置屏幕，这是一 项创新设计。结合优良的产品质量及吸引人的价格，大摩认为小米17系列的销售表现很可能超预期。此 类新产品可能加速小米在高端智能手机市场的份额增长。大摩维持小米集团"增持"评级，目标价62港 元，将该股定位行业内首选。 与此同时，小米已在其电动车业务中启动"客制化服务"。大摩表示，该服务将推出五种新定制颜色、两 种新内饰设计以及其他新功能，如定制标志、安全带等。虽然初期数量非常有限，每月仅40辆，但相 信"客制化服务"将成为小米电动车的关键竞争优势。一旦新电动车工厂的利用率提升，"客制化服务"很 可能扩展至大多数型号，帮助小米维持稳健的新订单流。 ...

Core Viewpoint - The return of the back screen in the smartphone market, particularly as a key feature of the Xiaomi 17 Pro series, is unexpected and indicates Xiaomi's strong expectations for this technology [1][3]. Group 1: Back Screen Technology - Xiaomi has invested significant resources into the "Miao Xiang Back Screen" feature, with development and manufacturing costs reaching 1 billion yuan, making it challenging for other brands to follow suit [3]. - The back screen is not a new concept in the smartphone market, as it was first introduced by Meizu in 2017 with the "Intelligent Window" design [5]. - Previous attempts by various manufacturers, including Meizu and Xiaomi, to implement back screens were not successful, leading to a decline in interest in this feature [5][7]. Group 2: Market Position and Differentiation - The functionalities offered by the back screen in the Xiaomi 17 Pro series, such as personalized wallpapers and notifications, could also be effectively managed by the main screen, raising questions about the necessity of the back screen [5][7]. - The introduction of the back screen may be more about creating product differentiation rather than addressing high-frequency user needs or efficiency improvements [7]. - While the back screen provides some unique features for the Xiaomi 17 Pro, it is unlikely to achieve the same level of innovation and market impact as Apple's Dynamic Island, which effectively addressed user interaction challenges [10]. Group 3: Future Outlook - There are concerns that the back screen design may not achieve lasting success and could become a fleeting trend, similar to the previous back screen attempts by Xiaomi [11]. - Xiaomi's software director has assured users that the back screen will not be removed in future iterations, indicating a commitment to this feature [11]. - The market's acceptance of the Xiaomi 17 Pro series will ultimately determine the success of the back screen, with the product being perceived as having good value for money due to its strong battery life and imaging capabilities [11].

Core Viewpoint - The CEO of Xiaomi, Lei Jun, expressed surprise at the public reaction to the renaming of Xiaomi 16 to Xiaomi 17, emphasizing that the name change aims to encourage a fresh perception of Xiaomi smartphones and demonstrate the company's ambition to challenge the world's leading brands [1] Group 1 - The renaming of the smartphone is intended to signify a significant upgrade in product capabilities, with Xiaomi 17 being described as a "cross-generation upgrade" that surpasses the iPhone 17 in many aspects [1] - Lei Jun highlighted that Xiaomi has been in the smartphone industry for 15 years, and the company aims to break the stereotypes and rigid perceptions that consumers have about its products [1] - The company has shifted from merely following competitors to actively challenging them, with Lei Jun stating that Xiaomi 17 has many features that exceed those of Apple [1]

Core Points - Xiaomi Group's legal department has been actively addressing malicious rumors and false statements from certain MCN organizations and online trolls, emphasizing the importance of maintaining a healthy online environment [1] - The company has conducted legal assessments on 16,465 pieces of online sentiment data since 2025, monitoring 231 online accounts and filing civil lawsuits against 92 malicious infringement accounts [1] - Xiaomi's CEO Lei Jun highlighted that Xiaomi's automotive division has faced significant online attacks, calling for a clean and fair environment in the automotive industry [4] Group 1 - Xiaomi's legal department has initiated 35 lawsuits to assist car owners who have been unjustly attacked online [1] - The company supports a recent joint action by six government departments to combat online misconduct in the automotive industry, which aims to address illegal profit-making, exaggerated claims, and malicious attacks [4] - The recent product launch included the Xiaomi 17 series and Xiaomi Pad 8 series, showcasing the company's commitment to innovation despite the challenges faced [2]

26日午间，小米法务部官微发文称，长期以来，部分MCN机构和网络黑水军持续发布不实言论，恶意造谣诋毁我司，破坏清朗的网络舆论环境。为维护 我司的合法权益，小米法务始终坚持依法依规推进法律维权工作。 2025年至今，小米法务已完成对16465条舆情线索的法律评估，重点监测网络账号231个，并针对其中92个恶意侵权账号提起民事诉讼，依法追究相关侵权 人的法律责任。目前，部分案件已进入法院审理阶段，我们将适时公布案件进展。 同时，我们亦关注到部分小米车主无端遭受网络攻击的情形，小米法务已协助部分车主进行维权，目前已发起车主维权诉讼共计35件，后续我们将持续重 点关注此类网络侵权行为。 我司将以"零容忍"的态度，强化舆情监控，追责到底，绝不姑息。小米法务将充分运用法律手段，坚决打击一切侵权行为，切实守护品牌商誉和用户名 誉。 网络不是法外之地，言论自由亦有边界。请各位尊重事实、理性发言，共同营造健康、有序的网络环境。 同时，小米汽车副总裁李肖爽表示已经在APP社区已开通专项通道，收集用户反馈并提供维权协助。 9月25日晚间，2025雷军年度演讲活动结束后，小米集团董事长、CEO雷军接受了媒体的采访。 对于网络上有针对 ...

本文转自【小米法务部】； 小米法务部9月26日发文： 长期以来，部分MCN机构和网络黑水军持续发布不实言论，恶意造谣诋毁我司，破坏清朗的网络舆论环境。为维护我司的合法权 益，小米法务始终坚持依法依规推进法律维权工作。 2025年至今，小米法务已完成对16465条舆情线索的法律评估，重点监测网络账号231个，并针对其中92个恶意侵权账号提起民事诉 讼，依法追究相关侵权人的法律责任。目前，部分案件已进入法院审理阶段，我们将适时公布案件进展。 同时，我们亦关注到部分小米车主无端遭受网络攻击的情形，小米法务已协助部分车主进行维权，目前已发起车主维权诉讼共计35 件，后续我们将持续重点关注此类网络侵权行为。 我司将以"零容忍"的态度，强化舆情监控，追责到底，绝不姑息。小米法务将充分运用法律手段，坚决打击一切侵权行为，切实守 护品牌商誉和用户名誉。 网络不是法外之地，言论自由亦有边界。请各位尊重事实、理性发言，共同营造健康、有序的网络环境。 责任编辑：刘万里 SF014 ...

Core Insights - TCL Huaxing officially announced that it exclusively supplies the main and back screens for Xiaomi 17 Pro and Pro Max, enhancing user interaction through the "Miao Xiang Back Screen" with multi-scene functionality [1] - The Xiaomi 17 Pro Max features Real RGB technology, which is rare in the OLED field, providing clearer picture quality while reducing power consumption [1] - TCL Huaxing also exclusively supplies the entire series of Xiaomi TV S Pro Mini LED televisions and provides screens for Xiaomi Pad 8 [1]