$XIAOMI-W(01810)$ In fact, Xia

In fact, Xiaomi has invested 13.5 billion yuan over four years, and much of the progress came after OPPO disbanded its Zeku team (OPPO had previously invested 10 billion yuan without success), demonstrating Lei Jun's perseverance in this area. Currently, even though Google's products are manufactured by Samsung, they still can't match the level of Xiaomi's Xuanjie O1. From the setback of "Songguo" (Xiaomi's chip project) to the debut of "Xuanjie," Xiaomi has caught up to the first tier in just four years, finally filling its long-standing "chip shortage" gap. With a 13.5 billion yuan investment and a 2,500-person team, whether Xuanjie can achieve better power consumption performance, deliver differentiated AI experiences, and achieve large-scale profitability in the next few generations of products will determine whether Xiaomi can truly transform into a "hardcore technology company." We'll be watching closely.

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