Hanxing Venture Capital, a Xiaomi affiliate, recently increased its investment in Hefei-based chip firm Rhino. The company's core products are autonomous driving chips but is also involved in developing autonomous driving solutions and development tool chains.
Chinese consumer electronics giant Xiaomi has recently begun to promote a press conference that will be held at 7 p.m. on December 1, Beijing time. The Xiaomi 13 smartphone series, the firm's first desktop computer and other products will all be released at the event.
The progress of Xiaomi's vehicle manufacturing project is reportedly falling short of expectations, which may eventually lead to lower product competitiveness.
Affected by positioning upgrades, material costs, the continued impact of COVID-19, exchange rate fluctuations and other factors, the unit price of the upcoming Xiaomi 13 smartphone series is expected to increase by 15-20% to around 4,500 yuan ($628).
Xiaomi released its financial report for the third quarter of 2022 on November 23. Its revenue in the period was 70.47 billion yuan ($9.87 billion), down 9.7% year-on-year. Net profits were -1.476 billion yuan, while adjusted net profits were 2.117 billion yuan, down 59.1% year-on-year.
According to a suspected leak of the packaging for a new product, Xiaomi will probably skip its 13 series and release 14 series directly. However, Wang Hua, general manager of Xiaomi's public relations department, denied the rumor.
During the Snapdragon Summit 2022, Qualcomm Technologies introduced its latest premium mobile platform, the Snapdragon 8 Gen 2. This new product is set to be adopted by many Chinese smartphone brands, including OPPO, Honor, OnePlus, vivo, Xiaomi, and more.
Virtual user-generated content metaverse platform Yahaha announced on November 15 that it has completed round-A+ financing totaling $40 million, jointly led by Temasek and Alibaba and followed by 37 Interactive Entertainment.
Xiaomi's vehicle manufacturing business has been established for more than a year now, and related rumors have emerged one after another from within the industry.
On November 8, Atech Automotive (Wuhu) Co., Ltd., a smart vehicle equipment manufacturer, announced the completion of a new Round C financing deal exceeding 500 million yuan ($69 million). Hubei Xiaomi Changjiang Industrial Investment Fund Management is one of the lead investors.
Zhong Yilin, vice president of BYD's automotive engineering research institute, said that the sales volume and penetration rate of intelligent vehicles on L2 and above in China increased rapidly, which was 24.5 times higher than that in 2017.
On November 2, the Xiaomi 12S Ultra Concept Edition was officially unveiled, which features a unique rear camera setup that includes a removable Leica lens for enhanced photography. Xiaomi and German camera maker Leica jointly released the Xiaomi 12S Ultra in July this year.
Pride Silicon, an automotive chip developer, completed a pre-A round of financing worth tens of millions of yuan, which was exclusively invested by Xiaomi's industrial investment affiliate.
Reports surfaced on November 2 claiming that Xiaomi's vehicle manufacturing project has been called to a stop. The Chinese consumer tech giant later stated that its automotive business is progressing smoothly and that it does not address rumors.
The popularity of consumer-facing smart glasses is on the rise in China. Since the beginning of this year, Nreal, Rokid, Thunderbird Innovation and a Xiaomi-affiliated firm have all released new products, including AR glasses and corresponding intelligent terminal equipment.
Xiaomi founder Lei Jun shared his thoughts on the global electric vehicle industry on October 19, writing on Twitter that the only way for Xiaomi to succeed is to be among the top five leading brands, shipping more than 10 million cars annually.
Xiaomi Auto's factory is expected to obtain an automobile production qualification from June to July 2023, a big move for the company's mass-production plans.
Chinese research firm Analysys released a report detailing the market share of AR glasses in China in the third quarter of this year, showing that Xiaomi's AR glasses ranking fourth with a market share of 8.5%.
Black Shark, a Chinese gaming smartphone brand, has recently been significantly shrinking its number of employees, with layoffs involving various departments and reaching a rate of nearly 50%.
Airstar Digital Technology is a key company in Xiaomi's financial business segment, and its business mainly includes industrial financial services, financial technology services and personal financial services.