Xiaomi faced a challenging week as its stock price plunged by 10% over just two days. This sharp decline followed reports of underwhelming sales for the newly launched Xiaomi 17 series. A prominent electronics analyst recently slashed the shipment forecast for the Xiaomi 17 series by 20%, dropping the expectation from around 10 million units to a significantly lower figure.
Analyst Downgrade and Xiaomi’s Response
The analyst cited weaker-than-expected demand for the standard Xiaomi 17 as the main reason for the downgrade. The Pro and Pro Max versions, while performing better, could not compensate for the lackluster sales of the base model. Investor confidence took a hit, triggering the steep drop in Xiaomi’s share price.
However, Lu Weibing, a top Xiaomi executive, quickly addressed these concerns. He stated that the initial sales numbers for the 17 series are very strong, even though it’s only been two days since the launch. Lu expressed optimism that the 17 series would outperform the previous Xiaomi 15 series, and emphasized that the company currently has no plans to cut production orders.
What’s Next for Xiaomi?
Despite the analyst’s pessimism, Xiaomi remains confident in the 17 series’ potential. The company is banking on continued consumer interest and believes that the upcoming weeks will demonstrate the true strength of its latest flagship lineup.
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