Xiaomi Rushes Smartphone Launch and Unveils 990-HP EV as Stock Sinks to New Lows

Xiaomi launches T-series phones early, unveils 990-hp YU7 GT EV, and buys back shares, but stock hits 52-week low amid chip price hikes and sales decline.

The Chinese technology giant is pulling out all the stops — accelerating product cycles, unveiling a high-performance electric SUV developed by former BMW and Porsche engineers, and buying back shares. Yet the market remains unimpressed, with the stock plumbing depths not seen in a year.

Xiaomi has broken with a six-year tradition by moving the launch of its T-series smartphones forward by months. The Xiaomi 17T and 17T Pro, typically unveiled in September, are now slated to hit the market in the current quarter. Certifications from regulators including the US Federal Communications Commission point to a global rollout in short order. Early leaks suggest the base model will start at around €650, with the Pro version priced at nearly €800. The handsets are expected to feature MediaTek processors and larger batteries than their predecessors.

On the automotive front, Xiaomi used the Beijing Auto Show to present the YU7 GT, an all-wheel-drive electric SUV packing 990 horsepower from two electric motors. The vehicle, capable of 300 km/h, comes with air suspension and torque vectoring on the rear axle. Its development was led by a Munich-based team headed by Rudolf Dittrich, a former technical director of BMW’s M Division who oversaw the M4 GT3. The chassis dynamics unit is run by Claus-Dieter Groll, a Nürburgring veteran with nearly three decades of experience across multiple BMW model lines. The design team draws on talent from Porsche, Lamborghini and Mercedes-Benz, including Jean-Arthur Madelaine, former project lead for the Mercedes-AMG Vision GT. Market launch is scheduled for the end of May.

The timing of the GT’s debut is no coincidence. The base YU7 delivered over 39,000 units in December — a monthly record — but sales slumped to roughly 13,600 in March, a near one-third drop from February. Xiaomi’s overall EV target for 2026 stands at 550,000 vehicles, up from around 412,000 last year. The GT is intended to reignite demand.

Meanwhile, the core smartphone business is under pressure from surging memory chip prices. Producers such as Samsung are diverting capacity toward AI applications, and market researcher TrendForce forecasts DRAM prices will rise by more than half this year. Xiaomi has already raised prices on several phone models in response. Global smartphone shipments fell six percent year-on-year in the first quarter of 2026. Rivals like Lenovo have hedged by stockpiling components early; Xiaomi’s exposure to the cost spike remains unclear.

The stock market has taken a dim view. Shares listed in Frankfurt closed at €3.20 — exactly the 52-week low — while the Hong Kong-listed stock trades at the equivalent of €3.42. The year-to-date loss stands at roughly 29 percent in Frankfurt and 24 percent in Hong Kong. Over twelve months, the Frankfurt listing has shed nearly 48 percent, leaving it more than 50 percent below its 52-week high of €6.69.

Management has tried to shore up confidence with buybacks, purchasing around 200 million Hong Kong dollars’ worth of shares over recent trading days. But the move has done little to arrest the slide.

Clarity may come on May 26, when Xiaomi’s board convenes to approve first-quarter results. The meeting agenda is limited to the earnings release. Investors will be looking for evidence that the company can absorb rising component costs without crushing margins — and for signs that the EV division can offset weakness in smartphones. If the numbers show resilience, the accelerated smartphone launch could provide the catalyst the stock desperately needs.