Xiaomi's Global Launch at MWC: A Crucial Test for Its Stock

Xiaomi unveils Xiaomi 17 Ultra & Pad 8 at MWC amid stock pressure. Key focus on product strategy, European market share, and recent share buybacks.

All eyes in the mobile technology sector are turning to Barcelona as Xiaomi prepares for a pivotal global unveiling at the Mobile World Congress on February 28. This event arrives at a critical juncture for the Chinese tech giant, whose American Depositary Receipts (ADRs) faced continued pressure, declining 2.9% to $4.68 in Monday's trading session. The central question for investors is whether the company's new flagship products can reverse its recent downward trajectory.

Strategic Moves to Counter Market Pressure

Beyond the product launch, Xiaomi's management is actively working to support its share price. On February 20, the company executed a share buyback, purchasing 4.3 million Class B shares for HKD 152.2 million. This followed another repurchase of 1.5 million shares just days earlier. These actions send a clear signal that the company's leadership views its own equity as undervalued in the current market.

In the European landscape, Xiaomi holds the third position with a 16% market share, trailing behind Samsung and Apple. However, the broader regional market contracted by 1% in 2025, with total shipments reaching 134.2 million units. The upcoming quarterly results, scheduled for release on March 24, will provide crucial evidence on whether Xiaomi's growth narrative remains intact or if the European smartphone market is becoming increasingly saturated.

Product Portfolio and Regional Strategy

The centerpiece of the Barcelona event will be the global introduction of the Xiaomi 17 Ultra. Notably, the device destined for markets outside China will feature a key specification change: its battery capacity is set at 6,000 mAh, compared to the 6,800 mAh unit in the domestic Chinese model. This decision is likely to draw scrutiny from technology enthusiasts. Pricing is expected to align with the previous generation, suggesting that despite component upgrades, the company does not foresee significant margin expansion on this model.

The launch will also feature the Xiaomi Pad 8, equipped with a Snapdragon 8s Gen 4 processor and a substantial 9,200 mAh battery. Its 11.2-inch display boasts a 144 Hz refresh rate. Perhaps more strategically interesting is Xiaomi's entry into the tracker segment with the "Xiaomi Tag," priced at €17.99. Its compatibility with both Apple's "Find My" network and Google's "Find Hub" ecosystem represents a clever tactical move to engage users across the dominant mobile platforms.

The success of these global introductions at the MWC is widely seen as a near-term catalyst that could determine the direction for Xiaomi's beleaguered stock.