Xiaomi Yu7 Sold Out in Just 3 Minutes After Paying a Down Payment of $2,700

BEIJING, JUNE 26 — Chinese smartphone maker Xiaomi has officially launched its latest smartphone, the YU7, with prices starting at ¥2,535 to ¥3,299. The device was put on sale at 10 PM last night and sold out in only three minutes, with a down payment of $2,700 (5000 CNY) that unlocks the product.

Just hours after its launch, Xiaomi's company stock jumped 6.55% to a new high of HKD 61.45 (approximately RMB 56.1) on the Hong Kong Stock Exchange, marking the first time the company's share price has crossed the HKD 60 threshold since its inception. Analysts are optimistic about the impact on its stock price.

Fliggter analysts expect orders to exceed buying forecasts and likely surpass previous expectations related to southbound investments. The sales of YU7 is believed to bolster Xiaomi's goal of delivering 400,000 electric vehicles this year and further boost investor confidence, followed by an accelerated increase in electric vehicle production capacity by the end of 2025.

The company’s next push will be dependent on industry performance guidance or third-quarter earnings in Q2 or Q3 2025.