相比3纳米SoC，小米自研4G基带更值得关注

Core Insights - Xiaomi has unveiled its self-developed 3nm chip "Xuanjie O1" and its first self-developed 4G baseband "Xuanjie T1," emphasizing its ambition to become a significant player in the semiconductor industry [1][8] - The development of Xuanjie O1 took over four years and cost approximately 13.5 billion yuan, marking a significant milestone for Xiaomi in its transition from concept to production in automotive, chip, and smart factory sectors [1][14] Chip Technology - The Xuanjie O1 features a 10-core CPU utilizing ARM's latest Cortex-X925 and A725 designs, and a GPU based on ARM's Immortalis-G925, manufactured by TSMC using its second-generation 3nm process [2][4] - Xiaomi's chip design strategy involves using ARM's public architecture, which is common in the industry, allowing for faster development compared to fully custom designs [4][5] - The chip's performance metrics show a single-core score of 3008 and a multi-core score of 9509, with the GPU outperforming Apple's A18 Pro in certain tests [5][7] Power Efficiency - Xiaomi has prioritized power efficiency in the design of Xuanjie O1, achieving CPU efficiency close to Apple's offerings and a 35% reduction in GPU power consumption compared to the A18 Pro [7][8] Market Positioning - The pricing for the Xiaomi 15S Pro, which features the Xuanjie O1, is set at 5499 yuan for the 16GB+512GB version, making it competitively priced compared to its predecessor [7][14] - Xiaomi aims to sell over 10 million units of its flagship SoC within two years to ensure profitability, highlighting the high development costs associated with advanced chips [7][14] Baseband Development - The self-developed 4G baseband "Xuanjie T1" is designed to enhance Xiaomi's communication capabilities, featuring a 35% improvement in 4G-LTE performance and significant reductions in power consumption [8][10] - Developing a baseband chip is challenging due to the need for compatibility with various communication standards and extensive real-world testing, which Xiaomi has undertaken with a large team [10][11] Long-term Commitment - Xiaomi's leadership has committed to a long-term investment strategy in chip development, planning to invest over 50 billion yuan in the next decade, despite the challenges faced in the semiconductor industry [14][14] - The company acknowledges the competitive landscape and the need for continuous improvement and innovation in its chip offerings to succeed in the market [14]