Â
>>REAL-TIME UPDATES IN THE WIRE. CLICK HERE<<<
Â
Â
Xiaomi is set to unveil in early November two new smartphone models for the Xiaomi 14 series, which will be positioned to compete with Apple’s iPhone 15 Pro and Pro Max models, Chinese news outlet The Paper reported, citing internal sources.
The mass production of the two models has already started, the report said.
The overall stock order volume across all channels has seen a significant increase of 60% compared to the same period last year and the Xiaomi 13 series has achieved its annual sales target one quarter ahead of schedule, the report said.
The Xiaomi 13 series reached its annual sales goal a quarter in advance, and orders for the new series soared 60% compared with the same period a year earlier, the report said, citing Xiaomi’s supply chain source.
Xiaomi Chief Executive Lei Jun said last month that “Only by benchmarking itself against the iPhone can Xiaomi have a chance to catch up with it, so I will compare our products against the iPhone in each of my speeches at new product launch events.”
The company’s strategy is to go high-end, President Lu Weibing said on its earnings conference call, adding that Xiaomi is transitioning to attach equal importance to profit and scale.
Huawei Technologies and Xiaomi inked a deal to use each other’s patents globally, including those for fifth-generation wireless technologies, the pair announced yesterday. Xiaomi has 29,000 patents worldwide, and over 10,200 of them are global, while Huawei held more than 120,000 authorized patents globally as of last December.