Core Insights - Xiaomi's founder Lei Jun emphasized the need for a rebranding to overcome stereotypes associated with the company, particularly with the renaming of the Xiaomi 16 to Xiaomi 17, aiming to showcase the advancements in product capabilities and to challenge Apple directly [2][4] - The company is focusing on high-end market positioning, with a strategic shift from being perceived as a budget-friendly brand to a fashionable tech brand, aiming to attract a broader and more diverse customer base [2][4] - Xiaomi's entry into the automotive sector has faced significant challenges, including negative publicity, but the company is committed to enhancing the quality and performance of its vehicles, contributing to the high-endization of domestic automotive brands [2][4] Rebranding Strategy - The renaming of Xiaomi 16 to Xiaomi 17 was driven by the need to change public perception and highlight the significant upgrades in technology and features compared to previous models and competitors [2] - Xiaomi aims to fully benchmark against Apple, with the Xiaomi 17 series reportedly surpassing Apple in several technological aspects, including battery and screen technology [2][4] Market Positioning - Xiaomi has transitioned from a geek-oriented brand to a mainstream fashionable tech brand, reflecting a significant shift in its target audience and brand identity [2] - The company has developed a methodology for high-end positioning, focusing on three key areas: technology leadership, cognitive leadership, and aesthetic leadership [2] Automotive Sector Challenges - Xiaomi's automotive division has been heavily criticized online, with Lei Jun acknowledging that it has become one of the most targeted brands for negative publicity [2] - The company is committed to improving the driving experience and vehicle quality, drawing lessons from traditional luxury car manufacturers [2][4] Competitive Landscape - The competition with Apple is described as a long and arduous journey, with Xiaomi recognizing the need to learn from Apple and improve every detail of its products [4] - Xiaomi is also fostering collaborations with various automotive manufacturers to enhance its market presence and technological integration [4] Future Outlook - The company faced significant challenges in its high-end strategy during 2022, with a 15% decline in performance, followed by a 3% decline in 2023, but remains optimistic about future growth [4] - Xiaomi is focused on gradual market share growth, aiming for a 1% increase annually over the next five years, positioning itself as a long-term player in the competitive smartphone market [4]