XIAOMI(HK:01810) 财联社·2025-09-26 02:09Core Insights - The core theme of the article revolves around Xiaomi's transformation into a "hardcore technology company" through significant investments in core technologies and a high-end strategy, as articulated by CEO Lei Jun during his annual speech [1][3]. Group 1: Chip Development Journey - Xiaomi's journey in chip development, termed "chip-making journey," highlights the company's focus on high-end SoC (System on Chip) development, which is seen as essential for its future success [3][5]. - The company faced challenges in its initial chip development efforts, leading to the decision to halt the development of mid-range SoCs in 2018, with a renewed focus on high-end chips as the only viable path forward [5][7]. - As of April 2023, Xiaomi has invested over 13.5 billion yuan in the development of its "Xuanjie" chip, with a team of over 2,500 people, and plans to invest an additional 6 billion yuan this year [9]. Group 2: Product Launches and Market Positioning - The launch of the Xiaomi 17 series smartphones marks a strategic move to directly compete with Apple's iPhone, featuring the latest Snapdragon 8 Gen 2 processor and advanced technology [11][15]. - The starting price for the Xiaomi 17 series is set at 4,499 yuan, with pre-sales already initiated [12]. - The Xiaomi 17 series showcases significant advancements in display, battery, and imaging technologies, emphasizing the company's commitment to high-end product development [14][15]. Group 3: Automotive Customization Services - Xiaomi has introduced a new "customization service" for its automotive line, offering personalized options that were previously only available from luxury brands like Rolls-Royce and Porsche [16][17]. - This service aims to democratize access to high-end automotive experiences, aligning with Xiaomi's broader goal of technological and experiential equality [17].