XIAOMI(HK:01810) Mei Ri Jing Ji Xin Wen·2025-05-22 15:28Core Insights - Xiaomi's 15th anniversary event showcased the launch of its self-developed 3nm chip, the Xuanjie O1, integrated into three new products, marking a significant step in its high-end product line [1][3][4] - The company aims to invest 200 billion yuan in core technology research over the next five years, indicating a strong commitment to technological advancement [3] Product Launch - The event featured three products powered by the Xuanjie O1 chip: the Xiaomi 15S Pro smartphone priced at 5499-5999 yuan, the Xiaomi Pad 7 Ultra starting at 5699 yuan, and the Xiaomi Watch S4 starting at 1299 yuan [1][8] - The Xuanjie O1 chip boasts a die area of 109mm², over 300 million benchmark scores, and utilizes a second-generation 3nm process with 19 billion transistors [7] Market Strategy - Xiaomi's decision to integrate the Xuanjie O1 chip into mid-to-high-end products reflects a strategic move to enhance product performance and differentiate itself in a competitive market [2][10] - The company faces challenges in achieving sufficient sales volume, needing to sell over 10 million units within one to two years to ensure profitability [10] Competitive Landscape - The self-developed chip positions Xiaomi to reduce reliance on suppliers like MediaTek and Qualcomm, potentially altering the competitive dynamics in the high-end smartphone market [11][12] - Despite the ambitious move, Xiaomi's flagship models may still utilize Qualcomm chips in the short term, as the company navigates its existing supply chain relationships [11] Future Outlook - The development of the Xuanjie O1 chip is seen as a foundational step for Xiaomi to become a leading domestic chip design company, although challenges in manufacturing and testing remain [12] - The experience gained from this venture could provide Xiaomi with the necessary expertise to expand its capabilities in GPU, CPU, and data processing in the future [12]