Xiaomi Launches 18 Fold Smartphone at 10,999 Yuan with Custom Silicon
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Xiaomi launched its flagship 18 Fold smartphone in Beijing on Monday, pricing the device from 10,999 yuan (US$1,639) to compete directly with high-end foldables from Huawei and Apple.
The phone carries Xiaomi’s proprietary Xring O3 processor and LPDDR6 memory from ChangXin Memory Technologies, with sales opening on Thursday at 10am across mainland retail channels.
Founder and chief executive Lei Jun detailed the hardware specifications at the Beijing presentation. The device includes a 7.58-inch inner display, a reinforced hinge mechanism, an aluminium chassis, and strengthened cover glass. The 24-billion-transistor Xring O3 artificial intelligence processor raises central processor performance by 60 per cent over the prior Xring O1 generation while cutting energy consumption on select workloads by 25 per cent. Lei said Xiaomi has earmarked 50 billion yuan specifically for custom chip development, part of a wider 200 billion yuan research and development budget planned over the next five years.
Silicon Independence and Electric Vehicle Pricing
Alongside the phone, Xiaomi rolled out its Pad 9 Pro Max tablet starting at 4,799 yuan, also powered by the Xring O3, and priced its extended-range Skynomad sport utility vehicles. The five-seat N70 Pro SUV starts at 209,900 yuan, while the seven-seat N90 Max begins at 269,900 yuan. Both undercut Tesla’s Model Y L, which retails from 339,000 yuan in China. The extended-range powertrain uses an auxiliary petrol engine to charge the battery pack, delivering a driving range exceeding 1,000 kilometres on a single cycle.
“Counterpoint expects global smartphone shipments to contract 12.4 per cent this year, hit by surging memory costs and lengthening replacement cycles among budget consumers.”
For consumer tech retailers and premium device vendors across Asia, Xiaomi’s dual offensive in mobile silicon and electric mobility tightens pricing pressure across two categories simultaneously. By pairing domestic memory from CXMT with proprietary processors, the company shields its bill of materials against international component shortages that are squeezing entry-level hardware margins. The aggressive SUV pricing also demonstrates that Xiaomi is treating hardware margins as secondary to ecosystem lock-in, forcing traditional carmakers and handset specialists to defend their retail territory on compressed margins.
Premium Tier Resists Smartphone Downturn
The product blitz lands during an intense competitive window in China. Huawei unveiled its Mate XT 2 trifold handset on Monday starting at 19,999 yuan, using its Kirin 9050 Pro processor. Richard Yu Chengdong, chairman of Huawei’s Consumer Business Group, confirmed that Huawei has sold more than 1 million trifold devices worldwide. Meanwhile, Apple is scheduled to present its product line-up on Wednesday in California, where analysts anticipate the launch of a foldable model priced above US$2,000.
This surge in premium launches contrasts sharply with the broader consumer hardware environment. Counterpoint expects global smartphone shipments to contract 12.4 per cent this year, hit by surging memory costs and lengthening replacement cycles among budget consumers. Premium foldables remain an exception. Counterpoint projects cumulative worldwide foldable shipments will cross 100 million units by year-end, with annual category shipments set to expand 37 per cent in 2027.
Xiaomi built up to this release after spending 105.5 billion yuan on research and development over the past five years and first previewing the Skynomad vehicle architecture in late July. The group had previously rolled out the first-generation Xring O1 chip last year to test its custom silicon pipeline in select devices.
Market attention now shifts to Thursday morning retail sell-through figures for the 18 Fold, followed by initial delivery volumes for the Skynomad SUV series ahead of fourth-quarter earnings.
Questions & Answers
Q.What is the price of Xiaomi’s new foldable smartphone and when will it be available for purchase?
What is the price of Xiaomi’s new foldable smartphone and when will it be available for purchase?
The 18 Fold smartphone starts from 10,999 yuan (US$1,639). Sales open on Thursday at 10am across mainland retail channels.
Q.How much has Xiaomi invested in custom chip development and overall research and development?
How much has Xiaomi invested in custom chip development and overall research and development?
Xiaomi has earmarked 50 billion yuan specifically for custom chip development. This is part of a wider 200 billion yuan research and development budget planned over the next five years.
Q.How do Xiaomi's new electric vehicles compare in price to Tesla’s Model Y L in China?
How do Xiaomi's new electric vehicles compare in price to Tesla’s Model Y L in China?
The Skynomad N70 Pro starts at 209,900 yuan, and the N90 Max begins at 269,900 yuan. Both undercut Tesla’s Model Y L, which retails from 339,000 yuan.
Q.What impact is the launch of the 18 Fold expected to have on the market?
What impact is the launch of the 18 Fold expected to have on the market?
Xiaomi’s dual offensive in mobile silicon and electric mobility tightens pricing pressure for consumer tech retailers and premium device vendors. It forces competitors to defend their retail territory on compressed margins.