Xiaomi Corp is accelerating the launch of its flagship smartphone 17 Pro and 17 Pro Max series, skipping the 16 series in a bid to challenge the iPhone 17 in the premium smartphone market. The company’s sales in the premium smartphone segment grew by 55% in the first and second quarters this year.
Xiaomi’s founder and CEO, Lei Jun, showed the company’s ambition, noting that they want to be measured against Apple’s smartphone. He hopes to be the biggest competitor to Apple, which has dominated the market with at least 62% in premium smartphone markets.
Xiaomi 17 series to feature Snapdragon 8 Elite Gen 5 Processor
Apple’s iPhone 17 is set to launch globally this Friday, with refreshed updates to the iPhone 16. Counterpoint Research defines a premium smartphone as a device priced at $600 and above, and Apple is the dominant brand in the sector. The research revealed that the Chinese tech company has grown rapidly in the first half of this year, with 55% in sales, although it holds a small market share globally.
Some industry experts have noted that the Xiaomi 17 Pro and Pro Max are well placed to compete locally as Apple’s iPhone Air faces delays in China. President Lu Weibing reiterated the company’s strategy in a post on Weibo.
Weibing noted that the new series will arrive this month with updates on all the 17 series, including Xiaomi Mi 17, Xiaomi Mi 17 Pro, and Xiaomi Mi 17 Pro Max. He also noted that the price tag will remain even for additional quantities, and will also be the first smartphones powered by Qualcomm’s newly announced Snapdragon 8 Elite Gen 5 processor.
He highlighted that the company has invested over 100 billion yuan in research and development over the last five years. He added that the investment will increase to 200 billion yuan in the next five years.
Xiaomi stock climbs 1.9% as it targets Apple’s iPhone 17
Bryan Ma, an analyst at IDC, noted that jumping to the 17 series shows that Xiaomi is confident enough to say that it can be as good as Apple, which is highly regarded in China. He added that in the first half of 2025, 10% of Xiaomi smartphone shipments in China were priced above $600, compared to almost none in 2019.
The strategy shows that Xiaomi is determined to establish itself in the premium smartphone segment, where profits are higher compared to the general segment. However, Apple’s dominance remains firm worldwide but may face a direct challenge with Xiaomi’s rising sales in China, which are poised to increase after the release of the 17 series.
The Chinese tech company’s stock price is up 1.9%, trading at $56.20, with a day range of $54.90 – $56.50. The stock has grown by 6.34% in the past 30 days and has a positive YTD of 65.29%, showing a growth in investor confidence in the HK-listed security.
Apple Inc., on the other hand, has registered a 1.76% rise, trading at $234, with a day range of $229.02 – $234.51. The stock has also registered a negative YTD of 6.53% ahead of the iPhone 17 release set for Friday. The negative YTD has been affected mainly by the Trump tariffs, which have affected the company’s global supply chain.
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Source: https://www.cryptopolitan.com/xiaomi-accelerates-smartphone-release/
