Yahoo Financeยท2025-09-25 13:50Core Insights - Xiaomi Corp. has launched the Xiaomi 17 smartphone, priced at $630, to compete directly with Apple's iPhone 17, highlighting its ambition to challenge US rivals like Apple and Tesla [1][2] - The Xiaomi 17 will be available in Pro and Pro Max models, with prices ranging from 4,499 yuan ($631.20) to 5,999 yuan, making it over $100 cheaper than the base iPhone 17 [2] - CEO Lei Jun emphasized a direct comparison with the iPhone in terms of battery life, display quality, and camera capabilities during a two-hour online presentation [3] Company Strategy - Xiaomi is positioning itself against Apple by aligning its branding and product launch timing with that of the US company, aiming to capture a larger share of the premium smartphone market [3][6] - The company is also expanding into electric vehicles (EVs), with plans to invest $7 billion in developing its own mobile processors and AI models, indicating a shift beyond consumer gadgets [4][5] - Xiaomi's market value has tripled over the past year, now close to $200 billion, as it seeks to establish a foothold in the competitive EV market dominated by BYD and Tesla [4][7] Market Position - Xiaomi is targeting the premium smartphone segment, which is currently dominated by Apple, holding 62% of global sales for devices priced at $600 or more, while Xiaomi has only a single-digit market share [6] - The company has seen success in the EV market, with its first model outselling the Tesla Model 3 shortly after its launch, indicating strong demand for its vehicles [7]