全方位徕卡相机体验 | 徕卡2亿像素光学变焦 至高24期免息 *部分活动仪器小米島城配送订单可享,到店自藏及门店的送以门店变 以旧换新至高补贴1200元 局政策为准 *加价购不参与以旧换新 *加价购商品价值对比建议零售价 *具体活动射两及话验详情见下方活动提购 *预计12月27日开始发览。 小米 Xiaomi 17 Ultra 徕卡 刚刚发? 巴 刚刚发布 ¥7850 STFF Title ■ 小米京东 小头 数量 众所周知，华为旗舰新机发布时，最忙的当属"黄牛"炒作加价，新机供不应求，消费者愿意加价提前买到新品。如今小米对标华为成功，小米17 Ultra徕卡 版开售线上渠道秒罄，抢到新机的黄牛加价上千元销售，雷军应该做梦都笑醒高端成了。 根据主流电商平台显示，小米17 Ultra徕卡版线上平台全面缺货，第三方市场却出现大量未拆封新机，普遍存在不同幅度加价。16+512GB加价几十到上百元 不等，16GB+1TB最高加价上千元，部分黄牛价格炒到万元，比官方贵1000多元。 上山宫地日中国中国出外 ▲ VO Xiaomi 17 Ultra 徕卡版 * 7999 支持 16GB+512GB 米白色 x1 实付款 ...

转自：北京日报客户端 千呼万唤，代表专业光学影像的徕卡相机"可乐标"终于登上小米手机。 价格方面，小米17 Ultra定价6999元起（12GB+512GB），较上代同配置大幅涨价500元；徕卡版 16GB+512GB售价7999元，16GB+1TB售价8999元。 考虑到其定位与价格，小米17 Ultra或将成为一些人手中的"第一台徕卡"，却未必会是所 谓年轻人触手可及的那款。 影像"王炸"？ 回溯国内手机品牌高端化进程，影像是其中唯一从未缺席的关键词：2016年华为与徕卡的合作，开启了 传统相机品牌与手机厂商联名的行业风潮，也为国产手机高端化开辟出一条重要路径。 12月25日晚间，由小米集团手机部总裁卢伟冰主持的小米×徕卡影像战略合作升级暨Xiaomi 17 Ultra新 品发布会如期举行，备受关注的小米17 Ultra及小米17 Ultra by Leica（以下简称"徕卡版"）正式亮相。 从时间上看，小米14 Ultra发布于2024年2月22日、15 Ultra发布于2025年2月27日，17 Ultra的发布节点较 过去大幅提前。而与徕卡进一步影像联名的落地，也让新机尤其徕卡版的登场备受期待。 对 ...

千呼万唤，代表专业光学影像的徕卡相机"可乐标"终于登上小米手机。12月25日晚，小米17 Ultra如期 而至，备受关注的"徕卡版"也正式亮相。从时间上看，小米14 Ultra发布于2024年2月22日，15 Ultra发布 于2025年2月27日，17 Ultra的发布节点较过去大幅提前。而与徕卡进一步影像联名的落地，也让新机尤 其徕卡版的登场备受期待。 价格方面，小米17 Ultra定价6999元起（12GB+512GB），较上代同配置大幅涨价500元；徕卡版 16GB+512GB售价7999元，16GB+ 1TB售价8999元。 考虑到其定位与价格，小米17 Ultra或将成为一些人手中的"第一台徕卡"，却未必会是所谓年轻人触手 可及的那款。 影像"王炸"？ 回溯国内手机品牌高端化进程，影像是其中唯一从未缺席的关键词：2016年华为与徕卡的合作，开启了 传统相机品牌与手机厂商联名的行业风潮，也为国产手机高端化开辟出一条重要路径。在华为与徕卡的 合作终止后，小米接棒开启双方合作。此次徕卡可乐标的亮相，正是小米与徕卡从"联合研发"升级 为"战略共创模式"的核心信号。依托徕卡的专业影像基因夯实产品竞争力后，这 ...

千呼万唤，代表专业光学影像的徕卡相机"可乐标"终于登上小米手机。 12月25日晚间，由小米集团手机部总裁卢伟冰主持的小米×徕卡影像战略合作升级暨Xiaomi 17 Ultra新品发布会如期举行，备受关注的小米17 Ultra 及小米17 Ultra by Leica（以下简称"徕卡版"）正式亮相。 从时间上看，小米14 Ultra发布于2024年2月22日、15 Ultra发布于2025年2月27日，17 Ultra的发布节点较过去大幅提前。而与徕卡进一步影像联名 的落地，也让新机尤其徕卡版的登场备受期待。 对于为何提前发布，卢伟冰在预热直播中解释称，他看到有网友希望小米Ultra系列能在过年前发布，这样可以在春节期间拍照片，所以小米17 Ultra赶在元旦前发布，用户新年就能拍照。 但考虑到国内其他手机品牌的超大杯机型，往往亮相于标准版发布次年这一惯例，小米17 Ultra周期的提前，也可视作在公司在Ultra品类中激进 的"抢先手"。 价格方面，小米17 Ultra定价6999元起（12GB+512GB），较上代同配置大幅涨价500元；徕卡版16GB+512GB售价7999元，16GB+1TB售价8999 ...

Core Viewpoint - Xiaomi reported Q3 2025 performance with total revenue of 113.1 billion yuan (+0.5% vs consensus), year-on-year growth of 22%; adjusted net profit reached 11.3 billion yuan (+12.6% vs consensus of 10 billion yuan), year-on-year growth of 81%, corresponding to a net profit margin of 10.0% [1] Group 1: Smartphone Business - Smartphone shipments in Q3 were 43.3 million units, a year-on-year increase of 0.5%, with a market share of 13.6%; market share in China was 16.7% [2] - Average Selling Price (ASP) was 1,062 yuan, down 4% year-on-year; smartphone revenue was 46 billion yuan (+0.3% vs consensus), year-on-year decline of 3.1% [2] - The increase in storage prices has led to a decline in gross margin, with Q3 smartphone gross margin at 11.1%; Q4 smartphone gross margin is expected to be 10% [2] Group 2: IoT and Internet Business - In Q3, IoT revenue was 27.6 billion yuan (-1.9% vs consensus), year-on-year growth of 5.5%; gross margin improved by 1.4 percentage points to 23.9% [3] - Major appliances faced pressure with a year-on-year revenue decline of 15% due to competition and subsidy reductions; attention is advised on overseas expansion and market share changes [3] - Internet business revenue for Q3 was 9.4 billion yuan (+2.2% vs consensus), year-on-year growth of 10.8% [3] Group 3: Automotive Business - The automotive segment achieved profitability for the first time, with Q3 deliveries of 108,800 units and an ASP of 260,000 yuan; gross margin decreased by 0.9 percentage points to 25.5% [3] - November deliveries exceeded 48,000 units, with expectations of nearing full production by year-end; total annual deliveries are projected to exceed 400,000 units [3] - Q3 automotive revenue was 29 billion yuan, with other related businesses contributing 700 million yuan [3] Group 4: Financial Forecast and Valuation - Projected revenues for Xiaomi Group in 2025 and 2026 are 471.7 billion yuan and 545 billion yuan (year-on-year growth of 29% and 16% respectively); adjusted net profits are forecasted at 43.3 billion yuan and 44.9 billion yuan (year-on-year growth of 59% and 4%) [3] - The company is assigned a 20x PE for its main business in 2026 and a 2.5x PS for the automotive segment, with a target price of 51.1 HKD and a "buy" rating [3]

Core Insights - This year's Double Eleven e-commerce promotion started earlier than in previous years, with JD and Douyin launching on October 9, and Taobao, Tmall, and Pinduoduo starting around October 15 [2] - Xiaomi reported a total payment amount exceeding 18.2 billion yuan for the Double Eleven event, securing the top position in domestic smartphone sales across all major platforms [2] - According to JD's Double Eleven mobile sales data, Apple ranked first in sales, with Xiaomi following closely in second place, becoming the champion among domestic smartphone brands [5] Xiaomi's Performance - Xiaomi's smartphone business generated revenue of 45.5 billion yuan in Q2 2025, with a shipment volume of 42.4 million units [7] - In the high-end smartphone market, Xiaomi's share in the 4000-5000 yuan price segment is 24.7%, maintaining the top position in China, while its market share in the 5000-6000 yuan segment reached 15.4%, an increase of 6.5 percentage points year-on-year [7] - Xiaomi is shifting its focus in the high-end market from the 4000-6000 yuan range to the ultra-high-end segment above 6000 yuan starting this year [7]

Core Insights - The article discusses the rising prices of flagship smartphones in China as companies prepare for the Double Eleven sales period, highlighting the impact of increased component costs, particularly for storage [2][5][6] - The competition among smartphone manufacturers is shifting from price wars to a focus on product quality, brand strength, and user experience [3][13] Price Trends - Many smartphone manufacturers have reported price increases for their standard flagship models compared to previous generations, with some models seeing price hikes of over a hundred yuan [5][6] - Realme's GT8 Pro model has crossed the 5000 yuan price point, indicating a willingness to explore higher price segments despite rising costs [6][7] Market Dynamics - The reduction in consumer subsidies has led to a more competitive environment where brands must rely on their product offerings and brand appeal to attract customers [3][10] - The high-end smartphone market is experiencing growth, with Chinese brands like Xiaomi and Vivo reporting significant sales increases in the premium segment [7][10] Component Costs - The rising costs of components, especially storage chips, are affecting pricing strategies across the industry, with manufacturers facing pressure to balance profitability and competitiveness [5][8][13] - Companies are exploring different pricing strategies based on market characteristics, with some adopting conservative price increases while others implement slight hikes to maintain market share [8][10] Product Development Focus - Manufacturers are increasingly investing in product differentiation through enhanced features such as gaming performance and camera capabilities, targeting specific consumer segments [10][12] - Collaboration with imaging technology firms, like Realme's partnership with Ricoh GR, is becoming a trend to enhance product offerings and meet consumer demands [12][13] Future Outlook - The competition in the high-end smartphone market is expected to intensify, with brands focusing on product innovation, self-developed chips, and user insights to create a competitive edge [13][14] - The Double Eleven sales event is seen as a critical test for brands to demonstrate their ability to balance cost and user experience, which will influence their future market positioning [13][14]

Core Insights - The release of the REDMI K90 series marks a significant milestone for the company, with a focus on high-quality audio and advanced camera features, aiming to compete in the high-end smartphone market [4][6][8] Group 1: Product Features - The K90 Pro Max features a unique 2.1 sound system with dual super linear speakers and an independent bass unit, developed in collaboration with Bose, positioning it as a leader in audio quality among smartphones [4] - The K90 Pro Max is equipped with the Xiaomi 17's light-hunting 950 main camera, which has a 43% increase in light sensitivity, and is the only product in the 4000 yuan price range to offer a 5x periscope telephoto lens [6] - The K90 Pro Max is priced starting at 3999 yuan, while the K90 starts at 2599 yuan, marking REDMI's entry into the high-end smartphone segment [4][8] Group 2: Market Positioning - The company aims to redefine the K series by not limiting product definitions by price, not differentiating technology based on brand, and even allowing for direct competition with Xiaomi [8] - The company has seen a 30% increase in total sales for the Xiaomi 17 series compared to the previous generation, with the Pro version accounting for over 80% of sales [9] - In the second quarter, the company's smartphone business generated revenue of 45.5 billion yuan, with a shipment volume of 42.4 million units, and a notable increase in market share in the high-end smartphone segment [9]

Core Insights - In Q4, a peak consumption season, smartphone manufacturers are launching their most expensive models, with a focus on high-end market competition against Apple [1][4] - Domestic brands like vivo, OPPO, and Honor are intensifying their efforts in the high-end segment, showcasing flagship models with advanced features [2][4] Group 1: Product Launches - Vivo's X300 series features the MediaTek Dimensity 9500 chip, BOE LTPO flexible display, and OriginOS 6, with two models: X300 and X300 Pro [2] - The starting prices for the X300 series are 4399 yuan and 5299 yuan, which are lower than the previous generation's launch prices [2][3] - The X300 series emphasizes imaging capabilities, with a 200MP Zeiss imaging system, aiming to differentiate from Apple [2] Group 2: Market Dynamics - The high-end smartphone market is a key focus for manufacturers due to its rapid growth and resilience, with global competition intensifying [4][6] - In China, smartphone sales declined by 2% year-on-year, with vivo holding a 19% market share, while Apple captured 12% [4][5] - The high-end market is dominated by Apple, which holds a 62% share, while Samsung has 20%, indicating a significant competitive landscape [5] Group 3: Competitive Strategies - Domestic brands are adopting aggressive pricing strategies to increase market share during peak sales seasons [3][6] - The competition in the 2000 to 5000 yuan price range is fierce, with Chinese manufacturers increasing investments in high-end features and AI applications [6] - Apple has responded to domestic competition by lowering prices for its iPhone 16 series, indicating a shift in strategy to remain competitive [5]

Core Viewpoint - The opening of Honor's global flagship store marks the transition of the "Alpha Strategy" from planning to implementation, reflecting the competitive landscape of the smartphone industry ahead of the National Day and Mid-Autumn Festival [4][6]. Group 1: Market Dynamics - The smartphone market is experiencing a surge in demand due to the simultaneous launch of new flagship models by major brands, including Huawei's Mate XT, Apple's iPhone 17 series, and Xiaomi's 17 series, creating a concentrated market effect [4][6]. - Offline retail has seen a revival, with significant increases in sales during the holiday period, as evidenced by Suning's data showing a 61% year-on-year increase in sales and a 73% increase in sales of appliances priced over 10,000 yuan [4][6]. Group 2: Supply and Demand - The pre-holiday period has led to a peak in short-term demand, driven by the release of new products and policies like "trade-in" incentives, resulting in high foot traffic in stores [6][12]. - Popular models are facing shortages, with some having delivery times extending up to two months, indicating strong consumer interest and demand [8][9]. Group 3: Competitive Landscape - The competition in the high-end smartphone market is intensifying, with Apple maintaining a 62% market share in the high-end segment globally, while Huawei and Xiaomi are gaining traction in China [15][17]. - Xiaomi reported over a 20% increase in sales of its 17 series during the holiday period compared to the same time last year, highlighting its successful push into the high-end market [15][17]. Group 4: Future Outlook - The global smartphone market is expected to see an increase in average selling prices (ASP), projected to rise from $357 in 2024 to $370 in 2025, driven by the high-end market's growth and innovations in technology [17]. - The upcoming fourth quarter is anticipated to be highly competitive, with AI technology and ecosystem integration becoming key drivers for brand premiumization [18].