以下文章来源于36氪财经 ，作者宋婉心 张帆 36氪财经 . 36氪旗下官方账号。洞见市场，比99%的投资者更聪明。 小米吃掉苹果丢失的份额？ 文 ｜ 宋婉心 编辑 ｜ 张帆 来源｜ 36氪财经（ID:krfinance） 封面来源 ｜ IC Photo 2021年底，小米首次宣布在产品上对标苹果、学习苹果。如今五年探索之后，小米17系列产品线全面对齐苹果。 值得注意的是，小米17定价4499起，标准版保持了上一代小米15的定价水平，高端配置则分别较上一代涨价200元至500元。 小米手机的十余代产品以来，从一开始的性价比定位到高端定位，其手机定价步步高升，甚至超过了苹果的同期涨幅。与此同时，尤其近五年来，苹果 则"加量不加价"。 价格涨幅大于苹果 梳理从小米1的定价涨幅，可以发现，从小米6首次提价开始，此后其每年定价涨幅几乎均超过10%——小米6提价15%、小米8提价17.4%、小米9提价 11.1%。 2020年，小米发布小米10手机，这一代开始，小米开始冲击高端市场，价格直接从2999元起跃升至3999元起，涨幅达1000元，同比涨幅更是超过30%，是 幅度最大的一次调整。 此后，3999起的定价维持了 ...

Core Viewpoint - Xiaomi has aligned its product line with Apple after five years of exploration, with the Xiaomi 17 series starting at a price of 4499 yuan, maintaining the pricing level of the previous generation Xiaomi 15, while high-end configurations have seen price increases of 200 to 500 yuan [1][2]. Pricing Strategy - Xiaomi's pricing strategy has shown a consistent upward trend, with each generation since Xiaomi 6 experiencing annual price increases of over 10%, peaking with the Xiaomi 10 series which saw a price jump of 1000 yuan, marking a 30% increase [2][4]. - The Xiaomi 15 maintained a starting price of 4499 yuan, indicating a successful shift to a high-end positioning in the 4000 to 5000 yuan price range [2][4]. Comparison with Apple - In contrast, Apple's pricing strategy has been more stable, with lower price increases compared to Xiaomi, particularly during the iPhone 7 to 11 market rise, where Apple maintained a steady pricing approach [4][5]. - The price gap between the starting prices of iPhone and Xiaomi has narrowed to 1500 yuan, down from nearly 3000 yuan in 2011 [4][5]. Sales Impact - Historically, Xiaomi's price increases have led to short-term declines in sales, such as a 35% drop in Q2 2020 following the Xiaomi 10 launch [5]. - Despite short-term impacts, Xiaomi's sales have stabilized and even increased over time, with projections for the Xiaomi 14 indicating sales between 880,000 to 1.2 million units [5][6]. Profitability and Margin - Xiaomi's shift to high-end products has significantly improved its gross margin, rising from around 2% to approximately 12% in recent years, while Apple maintains a gross margin of 30% to 40% [6][7]. - The focus on high-end products has resulted in increased single-unit profits for Xiaomi, despite initial commitments to keep hardware profit margins below 5% [6][7]. Competitive Landscape - The competitive landscape is shifting as Apple has begun to adjust its pricing strategy with the iPhone 17, moving from a focus on maintaining high margins to protecting market share, indicating a more aggressive approach against Xiaomi [9]. - Both companies are now positioned for direct competition in the high-end market, with uncertain outcomes [9]. Valuation Dynamics - Xiaomi's valuation logic is evolving, with a decreasing correlation between its smartphone business's gross margin and overall market valuation [10][12]. - The market is increasingly valuing Xiaomi based on its electric vehicle business growth prospects, which has a significantly higher gross margin compared to its smartphone segment [13][14].