Core Viewpoint - The article discusses the significant changes and innovations introduced in the Xiaomi 17 series, highlighting the company's commitment to evolving its product lineup and enhancing user experience through advanced technology and design. Group 1: Product Launch and Changes - Xiaomi skipped the 16 series and launched the new series as 17, 17 Pro, and 17 Pro Max, indicating a fresh start and a focus on innovation [1] - The event emphasized the theme of "change," showcasing various upgrades across the new models [1] Group 2: Technical Specifications - All models in the Xiaomi 17 series feature the latest Snapdragon 8 Gen 2 chip, which Qualcomm claims is the "fastest mobile SoC" currently available [5] - The Snapdragon 8 Gen 2 is built on TSMC's 3nm N3P process, offering a 20% increase in CPU performance and a 16% reduction in power consumption compared to the previous generation [7] Group 3: Pricing and Variants - The starting price for the Xiaomi 17 standard version is 4499 yuan for the 12GB+256GB variant, with other configurations priced at 4799 yuan for 12GB+512GB and 4999 yuan for 16GB+512GB [9] - The 17 Pro and Pro Max models have higher specifications and prices, with the 17 Pro starting at 4999 yuan for the 12GB+256GB version and going up to 5999 yuan for the Pro Max with 12GB+512GB [23][24] Group 4: Display and Design - The standard version features a 6.3-inch display with a resolution of 2656*1220, supporting a 120Hz refresh rate and a peak brightness of 3500 nits [11] - The Pro models come with enhanced display technology, including a new "Dragon Crystal Glass" for better durability and a unique rear display for notifications and selfies [16][18] Group 5: Camera Capabilities - The standard version includes a Leica triple-camera setup with three 50MP sensors, while the Pro models feature larger sensors for improved photography [13][23] - The Pro Max variant has a larger sensor for the telephoto lens, enhancing its imaging capabilities [23] Group 6: User Experience Innovations - The introduction of a retro handheld game console case that connects via Bluetooth to utilize the rear display for gaming adds a creative touch to the user experience [20] - The rear display also allows for personalized wallpapers and notifications, increasing the device's functionality [18] Group 7: Overall Assessment - The entire Xiaomi 17 series represents a significant upgrade over previous models, with various enhancements in specifications and features that are expected to attract consumer interest [26]

Market Overview - The Hang Seng Index faces resistance around 27,200 points, with a projected P/E ratio of approximately 13 times for the next 12 months, as the market reacts to the easing of trade tensions between China and the US and the Federal Reserve's potential policy adjustments [2] - The overall market sentiment remains active, with capital rotating across different sectors, although much of the positive news has already been priced in [2] Macro Focus - The State Administration for Market Regulation has initiated a special inspection of vehicle quality, targeting key industrial products to prevent irrational competition and ensure product safety [3][8] - The daily net limit for the Swap Connect will increase to 45 billion RMB starting October 13, enhancing the operational framework for international investors in China's interbank interest rate swap market [8] - The US GDP for Q2 was revised up to a growth of 3.8%, with core PCE rising to 2.6%, indicating stronger-than-expected economic performance [3][9] Corporate News - Xiaomi's new 17 series smartphones will start at a price of 4,999 RMB, and the company is expected to significantly accelerate the delivery of its vehicles [3] - HSBC has urged Hang Seng Bank to clean up non-performing real estate debts in Hong Kong, reflecting ongoing challenges in the property sector [3] - New World Development has secured up to 5.9 billion RMB in financing against its Victoria Harbour Cultural Hub [3] Industry Insights - The banking sector in China may face a "Japanification" scenario, where banks sacrifice interest margins to support the real economy, leading to weakened profitability and increased vulnerability to credit shocks [9] - The copper smelting industry is experiencing "involution" competition, prompting regulatory bodies to consider measures to control production capacity [9] - The Chinese government has added three US companies to its export control list, reflecting ongoing tensions in international trade relations [9] Economic Indicators - Hong Kong's exports rose by 14.5% year-on-year in August, surpassing expectations, while imports increased by 11.5%, leading to a trade deficit of 25.4 billion HKD [9] - The Federal Reserve's recent interest rate cut of 0.25% aligns with market expectations, with indications of further cuts in the upcoming meetings [3][10]

Core Insights - Xiaomi has undergone a significant transformation over the past five years, evolving from an "internet company" to a "hardcore technology company" with a focus on core technology investment and innovation [4][13] - The company aims to compete directly with major players like Apple, Samsung, and Huawei, with a commitment to invest 100 billion yuan in core technology research and development over the next five years [4][5] - Xiaomi's recent product launches, including the 3nm flagship SoC and the YU7 SUV, demonstrate its ambition to establish itself in both the smartphone and automotive markets [5][6] Company Transformation - Xiaomi's revenue surpassed 200 billion yuan five years ago, marking its entry into the Fortune Global 500, but the founder expressed ongoing anxiety about competition from industry giants [4] - The company faced skepticism and criticism, which led to internal struggles, prompting a strategic pivot towards technology-driven growth [4][5] - The launch of the 3nm SoC, which positioned Xiaomi among the top four companies globally with such capabilities, reflects its successful shift towards advanced technology [5] Automotive Strategy - Xiaomi's first car, the SU7, was launched with the goal of becoming a top five global automotive brand within 15 to 20 years, showcasing its commitment to the automotive sector [6] - The YU7 SUV achieved significant market traction, with over 240,000 orders within 18 hours of its launch, indicating strong consumer interest [6][7] - The company is focusing on enhancing driving performance and vehicle mechanics, positioning itself as a leader in automotive quality and innovation [10] Competitive Positioning - Xiaomi's new flagship smartphone series, the Xiaomi 17, aims to directly challenge Apple's iPhone 17, with improvements in performance and features at a more competitive price point [8][9] - The Xiaomi 17 series features the latest Snapdragon 8 processor and innovative design elements, indicating a strong push into the high-end smartphone market [8] - The company has rebranded its flagship product to signal its ambition to surpass industry leaders and redefine its market presence [9] Industry Challenges - Xiaomi has faced significant online criticism and negative publicity, particularly regarding its automotive ventures, which the CEO has acknowledged as a challenge for the brand [10] - The company supports recent government initiatives to combat online misinformation and negative campaigns that hinder industry growth [10] - Xiaomi's approach to automotive performance emphasizes the importance of high standards in vehicle development, aligning with global automotive industry practices [10]

Core Viewpoint - Xiaomi's recent launch of the 17 series smartphones is a strategic move to position itself against Apple, with the naming choice reflecting a direct comparison to Apple's 17 series [1][2] Group 1: Product Features and Comparisons - The Xiaomi 17 series features Qualcomm's latest Snapdragon 8 Gen 2 SoC, achieving a multi-core score exceeding 12,000, surpassing Apple's A19 Pro [1] - The standard version of the Xiaomi 17 series has a battery capacity of 7000mAh, nearly double that of the iPhone 17, showcasing advancements in battery technology [1] - Xiaomi aims to highlight its competitive edge in camera performance, battery life, and thermal management compared to the iPhone 17 series [1] Group 2: Strategic Positioning and Market Dynamics - Xiaomi's rebranding from the 16 to the 17 series is intended to challenge perceptions and demonstrate its commitment to competing with Apple in the high-end market [2] - The average selling price (ASP) of Xiaomi smartphones has remained around 1100 yuan, while Apple's ASP is approximately 6335 yuan, indicating a significant gap in the high-end segment [3] - In the domestic smartphone market, Xiaomi's market share is closely contested with competitors like Vivo and Huawei, with Xiaomi holding around 15-16% [3] Group 3: Research and Development Efforts - Xiaomi has invested heavily in R&D, with approximately 102 billion to 105 billion yuan spent over the past five years, and plans to invest an additional 200 billion yuan in the next five years [6] - The company has restarted its chip development efforts after a previous setback, with the new 3nm SoC,玄戒O1, expected to compete with Apple's A18 Pro in performance and efficiency [6][5] - Xiaomi's goal is to transition its brand image from an internet company to a "hardcore technology company" through its advancements in chip technology [6] Group 4: Automotive Sector Insights - Xiaomi's automotive division is also facing scrutiny, with the brand being heavily criticized online, yet the company believes the market for domestic electric vehicles is still growing [7] - The average selling price of Xiaomi's cars is around 289,000 yuan, positioning them in the high-end market alongside established luxury brands [6]

Core Insights - The central theme of the recent speech by Lei Jun is "change," focusing on Xiaomi's ventures into chip development and automotive manufacturing, marking a significant shift from previous themes centered around dreams and courage [2][3]. Group 1: Chip Development - Xiaomi has committed to a long-term strategy in chip development, with Lei Jun stating that the company will invest at least 50 billion yuan over the next decade [3][8]. - The journey of Xiaomi's chip development began in 2014 with the establishment of Xiaomi Pinecone Electronics, but faced challenges leading to a temporary halt in 2018 [6][7]. - In 2021, Xiaomi resumed its chip development efforts, launching the self-developed SOC chips, Xiaomi Xuanjie O1 and T1, in May 2025 [7][8]. Group 2: Automotive Ventures - Xiaomi's automotive project, which aims to compete with Tesla, has been a parallel initiative alongside its chip development, with significant investments and strategic planning involved [8][9]. - The company has faced internal challenges and skepticism regarding the sustainability of its automotive ambitions, but Lei Jun has remained committed to the project [7][9]. - The Xiaomi SU7 Ultra project, initially paused, has seen renewed focus and progress, indicating a resilient approach to its automotive strategy [8][9]. Group 3: Competitive Positioning - Xiaomi is positioning itself to directly compete with Apple, particularly in the smartphone market, with plans to skip the Xiaomi 16 series and launch the Xiaomi 17 to align with Apple's product cycle [9][10]. - The pricing strategy for the new Xiaomi 17 series reflects a move towards the high-end market, with starting prices set at 4,499 yuan for the standard version and up to 5,999 yuan for the Pro Max version [10]. - Lei Jun acknowledges that the competition with Apple will be a long and challenging process, emphasizing the need for Xiaomi to learn from Apple and improve on every detail [11].

2025年9月25日晚，小米召开新品发布会，正式推出了全新的小米17系列手机。该产品最大的特点，就是发布前突然改名，喊出"全面对标iPhone"的口号。 对此，发布会后的专访环节，小米集团董事长、CEO雷军表示，"我们通过改名这个行动，是希望让大家重新认识一下小米手机，重新表达我们敢于挑战世 界第一的决心。" 此外，雷军还强调，"今天大家需要重新认识一下小米手机了，因为小米17这一代的产品力是跨代升级的，非常炸裂，跟iPhone17全系列相比，有很多地方 都超越。" 小米 | 徕 | 徕 卡 小尺寸全能科技 XIaomi 质感小尺寸 精致好手感 19.6:9 全新比例 超大 R 角设计 四微曲包裹式中框 | 轻至 | 薄圭 | | --- | --- | | 191g | 8.06mm | 第五代 骁龙８至尊版 第三代 3nm 工艺 全大核 CPU 架构 apdraa Elite 50MP) 徕卡专业三摄 | 提 | 五焦段 全大光圈 | | | | --- | --- | --- | --- | | 0.7X | 1X | 2X | 2.6X | | f12.4 | £11.67 | £11.67 | £1 ...

Core Insights - Lei Jun's recent speech emphasized resilience and innovation, highlighting Xiaomi's journey in the automotive sector and the launch of the Xiaomi 17 series [1][6] - The narrative of Xiaomi's car manufacturing journey reflects both challenges and successes, particularly with the SU7 Ultra and YU7 models [3][10] Group 1: Xiaomi's Automotive Journey - Xiaomi's car project was initiated unexpectedly due to external pressures, such as U.S. sanctions on its smartphone business, leading to a pivot towards automotive manufacturing [3][4] - The SU7 Ultra project faced significant hurdles, including development uncertainties and team disagreements, yet it managed to achieve notable market success [4][6] - The YU7 model was designed to stand out in a competitive market, achieving over 200,000 pre-orders within three minutes and 240,000 within 18 hours, showcasing its strong market demand [7][10] Group 2: Competitive Positioning - Xiaomi's YU7 is positioned as a strong competitor against established models like Tesla's Model Y, boasting superior features such as a 620 km range and a Pro version with 835 km range [9] - The company undertook extensive research, including disassembling Tesla vehicles to learn from their design and engineering, indicating a strategic approach to product development [9] - Xiaomi's success in the automotive sector is underscored by the SU7 being the best-selling sedan in its category over the past year, reflecting strong consumer acceptance and brand loyalty [10]

以下文章来源于凤凰网科技 ，作者凤凰网科技 凤凰网科技 . 凤凰科技频道官方账号，带你直击真相。 来源丨 凤凰网科技 （ID： ifeng_tech ） 作者丨 董雨晴 编辑丨 刘毓坤 图源丨Midjourney 9月25日晚7点，雷军以经典装扮准时出现在国家会议中心，这是他今年度的第六次演讲，主题是改 变。 在2个多小时的演讲和年度新品发布中，雷军分享了小米过去几年所经历的"改变"，以及小米造车、 小米造芯背后的故事，并发布了小米17系列新品。 他把今天小米在手机、汽车与自研芯片上的成功，归结于五年前的一场大反思。 "五年前，2020年，小米迎来了自己的十周年。那时的我们，上市已经两年，年营收也突破2000 亿，成功跻身'世界500强'。在很多人眼中，小米已经非常成功了。但我内心，却充满着难以言说的 焦虑。" 更让他 疲惫 的是，网上有关小米的差评铺天盖地，"小米没啥技术，就是东西便宜"，"小米只会营 销，肯定走不远"，雷军说，他那段时间陷入了严重的内耗。 即便如此，在"歇一歇"和"继续拼"中，雷军还是选择了后者。他还总结了一个方法论——复盘， 就 是回答三个关键问题："做对了什么？做错了什么？重来一遍，该 ...

"5年前我们提出对标苹果，我认为首先需要勇气，敢于对标世界第一，只有对标才能逐步接近并达到领 先。从完全跟随到小米17在很多方面都超越了苹果。在电池技术、屏幕技术、散热等方面都有所创新， 在传感器、潜望镜、计算以及空间堆叠等都有成果。这是改名小米17敢于正面对垒的底气和勇气。"雷 军表示，通过改名行动，希望让大家重新认识小米手机，并表达敢于挑战世界第一的决心。 编辑 杨娟娟 新京报贝壳财经讯（记者陈维城）9月25日晚间，小米集团创始人、董事长兼首席执行官雷军接受新京 报贝壳财经等媒体采访时谈及小米16改名为小米17的原因，"改名引起的舆情令我非常惊讶。主要原因 是我们考虑到小米已经发展15年，但很多人对小米有刻板印象，甚至固执的看法，需要重新认识小米手 机。小米手机这一代产品力跨代升级，与iPhone17全系列相比，有很多地方都已经超越。" 校对 杨许丽 ...

对于网络上有针对小米车主的不友好声音，甚至有小米车主被极端攻击，雷军回应：小米汽车发布后成为全网被黑最惨的车企之一，这次六部委打击黑水 军、黑公关，我们举双手支持。在这一点上，小米汽车是受害者。我们希望全社会呼吁打击黑水军、黑公关，是他们让产业发展遇到了很多困难。 9月25日，雷军年度演讲拉开帷幕，在演讲会上雷军透露陈年做凡客遇到危机后，欠了大约十个亿，还钱就还了整整十年，大约2022年才彻底还完。随 后，相关话题冲上热搜。 雷军说，自己造车的经历刺激了陈年人到中年还要跨行业去做直播电商，而陈年的经历也让雷军有了一句感慨：果然，五十来岁正是闯的年纪。而正在直 播卖货的陈年听到后哭了。 据悉，陈年的还钱过程比老罗要低调，目前在杭州做直播电商。 相关报道： 雷军深夜发声：小米是全网被黑最惨的车企之一 9月25日晚间，2025雷军年度演讲活动结束后，小米集团董事长、CEO雷军接受了媒体的采访。 雷军称小米汽车用户近半数是女性 雷军表示，其实小米最初定位成一个极客品牌，为网络发烧友准备的。我们谁也没有想到，小米的成长速度超出了想象，很快变成大众品牌。"五六年前 我们所遇到的痛苦就是因为成长很快，有很多人对我们不了解， ...