Xiaomi Unveils New Products and Strategy at Annual Speech
Beijing, China – Xiaomi Group (1810), one of the leading technology giants, recently held its annual speech where it revealed its progress and strategy on the AI model. The company also made an unprecedented reflection on the high-end transformation of Xiaomi mobile phones, highlighting its commitment to excellence. Additionally, Xiaomi announced the release of new products including the Xiaomi MIX Fold 3 and Mi Band 8 Pro.
According to the quarterly report of Xiaomi Group, the company aims to solidify its market share of high-end smartphones in mainland China with the launch of the Xiaomi 13 series by the end of 2022. Notably, market data from third-party manufacturers predicts that Xiaomi will secure the top spot among Android manufacturers in the sales of smartphones priced between RMB 4,000 and RMB 5,000 in mainland China during the first quarter of 2023. The company’s market share is expected to increase by an impressive 7.7 percentage points year-on-year, reaching 24.1%.
The rising market share aligns with the record-high average selling price of smartphones in mainland China, which experienced a year-on-year increase of over 18% in a single quarter. This growth reflects consumers’ increased willingness to invest in high-quality smartphones that offer advanced features and functionalities.
Xiaomi’s new product release holds significant importance as it represents the pinnacle of the company’s innovation. The Xiaomi MIX Fold 3, a flagship product of the group’s folding screen series, is anticipated to deliver exceptional performance and capabilities. With a target price set at 14 yuan and a stop loss price at 11.2 yuan, it is expected to attract considerable interest from consumers and investors alike.
It is worth mentioning that the author of this article is licensed by the Securities Regulatory Commission and does not hold any shares mentioned above. Deng Shengxing, Managing Partner of Esports Capital Asia, provided insights into Xiaomi Group’s developments and strategies.
As Xiaomi continues to pave its way in the highly competitive technology industry, its emphasis on high-end transformation and the introduction of cutting-edge products demonstrate the company’s commitment to meeting the growing demands of tech-savvy consumers. With its remarkable progress and promising strategy, Xiaomi Group is poised to make significant strides in the market, securing its position among the top players in the industry.