小米卢伟冰：下一阶段要做6000+价位段超高端手机

Core Insights - Xiaomi Group reported Q3 financial results with revenue of 113.1 billion yuan, a year-on-year increase of 22.3%, marking the fourth consecutive quarter of exceeding 100 billion yuan [1] - Adjusted net profit reached 11.3 billion yuan, up 80.9% year-on-year, setting a historical record [1] - The smartphone and AIoT segment generated revenue of 84.1 billion yuan, with smartphone revenue at 46 billion yuan, down 3.2% year-on-year, but shipment volume has increased for nine consecutive quarters [1] Revenue Breakdown - IoT and lifestyle products revenue was 27.6 billion yuan, a year-on-year increase of 5.6% [1] - Internet services revenue reached 9.4 billion yuan, up 10.8% year-on-year, with overseas internet revenue hitting a historical high of 3.3 billion yuan [1] - Revenue from innovative businesses such as smart electric vehicles and AI exceeded 29 billion yuan, growing over 199% year-on-year [1] Market Position - Xiaomi's 17 series smartphones sold approximately 2.118 million units by the 45th week of 2025, ranking second in sales, following Apple's 9.471 million units [3] - The 17 series has shown strong performance since its launch in September, with a significant market share compared to competitors like vivo and OPPO [3] Pricing Challenges - Global storage chip prices have risen significantly, impacting the consumer electronics sector and leading to price increases across various smartphone brands [3][5] - Xiaomi's Redmi K90 series faced criticism for large price gaps between different storage versions, attributed to rising storage costs [3] - The company anticipates that the pressure from rising costs will be greater in the coming year, potentially leading to significant retail price increases [5] Strategic Responses - Xiaomi has secured supply agreements with partners for 2026, ensuring stable supply despite rising costs [6] - The company plans to absorb part of the increased memory costs through price adjustments while also improving product structure to mitigate the impact [6] - The focus on high-end product offerings is seen as a key strategy to manage price volatility and enhance profitability [6][7]