Xiaomi YU7's Official Launch Date and Car Division Profitability Taking Shape

Xiaomi CEO Lei Jun shed more light on the upcoming launch of its latest smartphone, Xiaomi YU7, during a recent investors' day event. According to the CEO, the phone's official price will not be $1,999 (CNY 23,590) as rumors had suggested, but is expected to be announced within 1-2 days.

Lei Jun also expressed optimism about Xiaomi's car division, stating that its operating loss is narrowing down steadily and aims to turn a profit by the third-fourth quarter of this year. The company has reportedly allocated a total budget of $3.5 billion for YU7's smart driving technology development, which puts it at the forefront of the industry in terms of investment.

Additionally, Xiaomi announced that its car chip is currently under development and expected to be launched soon as well. Lei Jun also addressed concerns regarding the delivery timeline for Xiaomi YU7, stating that the company is preparing for mass production and is confident in delivering the phone as quickly as possible after its official launch.

Lei Jun emphasized the significance of the upcoming YU7 launch, highlighting Xiaomi's commitment to innovation and customer satisfaction. With significant investment in smart driving technology and car chips, the company appears poised to take a strong position in the automotive sector.

The development comes amid growing interest in Xiaomi's foray into the automotive market, with many analysts noting the potential impact on its existing business and brand reputation. As the automobile industry continues to evolve, Xiaomi is likely to play an increasingly important role in shaping consumer expectations and preferences.

Xiaomi has a history of making announcements that often surprise investors and enthusiasts alike. With the upcoming YU7 launch, fans can expect more than just a smartphone – they might also get a glimpse into whether this marks a significant step forward for the company's ambitions in the automotive sector.