XIAOMI(HK:01810) Hu Xiu·2025-06-27 08:54Core Viewpoint - Xiaomi has officially launched its first AI glasses, which are positioned as a next-generation personal device, but the current capabilities of AI glasses seem to fall short of this ambitious claim [3][12]. Product Features - The AI glasses utilize a dual-chip architecture with Qualcomm AR1 and Hengxuan 2700, and offer four color options for electrochromic lenses [1]. - Key functionalities include photography, AI multimodal interaction, visual recognition, and simultaneous translation, aligning with the capabilities of similar products [3]. - The glasses achieve approximately 8.6 hours of battery life in mixed-use scenarios, nearly doubling the battery life of competitors like Ray-Ban Meta [9]. Market Positioning - Xiaomi's AI glasses have sold 10,000 units within a day of launch, indicating strong initial market interest [13]. - The total projected shipment for smart glasses in China for 2024 is 167,000 units, suggesting that Xiaomi's early sales could significantly impact market dynamics [14]. Competitive Landscape - The AI glasses market is characterized by high product homogeneity, with many brands using similar designs and components, such as the Sony IMX681 sensor [5][6][8]. - Unlike competitors like Meta, which emphasize fashion and collaboration with brands, Xiaomi focuses on technological attributes, potentially limiting its appeal in the long term [17][21]. Strategic Advantages - Xiaomi leverages its supply chain management to differentiate its product, such as using electrochromic technology for lens options [9]. - The integration of a proprietary software operating system and a comprehensive hardware ecosystem provides Xiaomi with a competitive edge in product interconnectivity and functionality expansion [11].