Xiaomi’s Record Buyback Can’t Shake the 52-Week Low — Yet
28.06.2026 - 10:33:13 | boerse-global.de
Xiaomi has thrown its weight behind a share repurchase programme that could see up to 4 billion B-class shares scooped up by brokers. The move, announced over the weekend, is the company’s most aggressive attempt yet to prop up a stock that has been battered by memory-chip inflation and sliding investor confidence. The buyback sits within an existing HK$20 billion framework, with CEO Lei Jun clearly betting that the current valuation is too cheap to ignore.
The shares touched a fresh 52-week trough of €2.34 on Friday and were trading at €2.46 on Monday. That leaves the stock down 45% since the start of the year and 63% lower over the past twelve months. On the charts, the relative strength index has plunged to 19.8 — deep in oversold territory — while the gap to the 200-day moving average has widened to nearly 40%. The technical picture screams that sellers have taken control.
Yet beneath the market gloom, some of Xiaomi’s product lines are actually humming. The recently launched 17T series shifted roughly 103,500 units in its first week, a solid start that defied a warning from Goldman Sachs about shrinking smartphone shipments due to rising chip costs. The company also unveiled a new robotic vacuum cleaner boasting 10,000 Pa of suction — priced at around €215 — alongside refrigerators with capacities of 186 and 216 litres. These smart-home additions are part of a broader push to diversify beyond phones.
The core headache remains the cost of components. Memory chips — DRAM and NAND in particular — have been climbing month after month, pushing the bill of materials for entry-level smartphones well past 1,500 RMB. CPUs and GPUs are also in short supply, forcing Apple to raise prices on select Mac models in China by as much as 33%. Xiaomi is leaning on its partnership with MediaTek to cushion the blow, but margins in the volume business are being squeezed hard. In response, the company is pivoting upmarket: average selling prices hit a record in the first quarter of 2026, although budget segment volumes suffered as a result.
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A further lift to the price mix could come from the upcoming Xiaomi 18 Pro. Leaks suggest it will be powered by a Snapdragon 8 Elite Gen 6 chip built on a 2nm process, paired with a dual-200-megapixel camera and 100-watt wireless charging. If the 18 series gains traction, it would help push the average selling price even higher and partially offset the component pain.
Meanwhile, Xiaomi is broadening its geographic footprint. On June 25, it opened its largest ever store in Singapore’s VivoCity mall, putting ecosystem products such as the Pad 7 Pro at centre stage. The aim is to reduce reliance on the domestic Chinese market, where competition is fierce and the regulatory environment unpredictable.
The automotive division is another long-term growth bet. Lei Jun reiterated over the weekend that the vehicle testing team now exceeds 800 specialists, a sign of the company’s seriousness about quality control. The market is watching for delivery data on the SU7 electric sedan and demand signals for the YU7 SUV — both of which could swing sentiment more than any product leak.
Xiaomi at a turning point? This analysis reveals what investors need to know now.
For now, the buyback is the most visible tool in Xiaomi’s arsenal. Whether it works depends on whether the €2.34 support level holds. If that floor gives way, the technical selling pressure may intensify despite the company’s efforts to buy its own stock. All eyes are on the weekly price action and the next batch of vehicle numbers.
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