Xiaomi's Transformation: Lei Jun's Anticipated Speech and New Product Launches

Lei Jun Unveils Xiaomi's Vision Amidst Intense Competition

In a rare moment of candor, Lei Jun, the founder, Chairman, and CEO of Xiaomi Group (01810.HK), shared his insights on the challenges the company has faced in recent years. He noted that the decision to simultaneously venture into car manufacturing and relaunch chip development was a significant bet on the company's resources, leading to immense pressure.

While some perceive Xiaomi's journey as a series of effortless successes, Lei Jun's remarks suggest that these achievements were forged through navigating significant hurdles. On September 25th, Lei Jun intends to share these experiences at his sixth annual speech, themed 'Transformation'.

New Product Launches at Xiaomi Conference

Lei Jun's speech coincides with the launch of the new Xiaomi 17 series of smartphones, encompassing the Xiaomi 17, Xiaomi 17 Pro, and Xiaomi 17 Pro Max. These phones will feature the new Xiaomi HyperOS 3 and the flagship Snapdragon 8 Gen 3 chip. The Xiaomi 17 aims to be the 'strongest standard version ever,' while the Pro version focuses on small-size imaging technology, and the Pro Max targets being the 'strongest peak technology imaging flagship in Xiaomi history.'

Lu Weibing, President of Xiaomi's smartphone division, described this series as a 'major leap' and a culmination of Xiaomi's strategy to elevate the brand over the past five years, during which the company invested over 100 billion yuan in research and development, with plans to double that amount to 200 billion yuan in the next five years.

Xiaomi Enters the Electric Vehicle Market with Force

Car manufacturing is another major bet from Lei Jun, and it is beginning to pay off. Since the unveiling of the Xiaomi car at the end of 2023, the SU7, SU7 Ultra, and YU7 models have been launched. In the first eight months of 2025, Xiaomi's cumulative sales reached 224,800 vehicles, representing 64% of the annual target. The SU7 achieved sales of 19,848 units in August, topping the mid-to-large-sized sedan category. The YU7 also recorded sales of 16,548 units, leading the mid-to-large-sized SUV segment.

Some sources speculate that Lei Jun may unveil a new car at his speech, such as the large-sized SUV YU9 extended-range version, or an upgraded version of the SU7L.

Chip Development: A Strategic Move for Xiaomi

Xiaomi has also made significant progress in chip development. In May 2025, the company launched the Xuanjie O1 chip designed with 3nm technology, which is being used in the Xiaomi 15S Pro and Xiaomi Pad 7 Ultra. The chip has demonstrated strong performance, signaling Xiaomi's ability to compete in the high-end chip market.

Lei Jun revealed that Xiaomi has invested over 13.5 billion yuan in Xuanjie's development, with a research and development team of 2,500 people. R&D investment is expected to exceed 6 billion yuan this year. Plans for the development of the Xuanjie O2 chip are likely to be revealed in the speech, covering phones, tablets, and automobiles.

Financial Results Reflect Strong Growth

Xiaomi's financial data has shown strong results. The company's revenue in the second quarter of 2025 reached 115.96 billion yuan, an increase of 30.5% year-on-year, a record high. Adjusted net profit was 10.83 billion yuan, an increase of 75.4% year-on-year. With progress being made in the areas of phones, cars, and chips, the 'Transformation' that Xiaomi is pursuing is no longer just a slogan, but a driving force for growth.

Xiaomi's ability to adapt to evolving market demands and invest in new technologies positions it well for continued growth and success in the future. As the company expands into new areas, it must remain vigilant to potential risks and challenges. Continued innovation and a strong focus on customers will be essential for long-term success.