Citi has reaffirmed its "Buy" rating on Xiaomi-W (01810) with a price target of 34 HKD, according to a recent research report, projecting that upcoming shipment data and third-quarter 2026 earnings will serve as the next catalysts for the stock.

Xiaomi launched its latest flagship smartphones, the 18 Pro and 18 Pro Max series, on September 18, featuring the world's first 2-nanometer Snapdragon 8 Elite/Extreme chips, hardware-level privacy screens, an upgraded AI-powered multi-function back display, larger 7000mAh (Pro) and 8500mAh (Pro Max) batteries, and a dual 200-megapixel Leica camera system. The starting prices of 5,999 RMB and 6,999 RMB respectively are set below competing models, yet the specifications match or exceed rivals, delivering notable value for money.

The report highlights that retail sales of the Xiaomi 18 Fold during its initial launch period surged 300% year-over-year, underscoring strong market momentum for its premium foldable devices and reflecting growing consumer recognition of Xiaomi's brand elevation. Citi believes this latest product release further solidifies the company's presence in the high-end segment and reinforces its cost-performance positioning.