Xiaomi Retires MiMo-V2.5 Models as HyperOS 4 Rollout Begins — Two Milestones, One Cautious Analyst Stance
Published on 10/21/2026 at 16:32 | Editorial boerse-global.de
Xiaomi is retiring two of its older AI models today, and the same week it began pushing a stable operating system build to Chinese handsets. The two moves land on the same calendar but tell separate stories: one is housekeeping inside the AI lineup, the other a genuine delivery milestone. Neither, on its own, moves the needle on revenue or earnings.
The MiMo-V2.5-Pro and MiMo-V2.5 models were scheduled to go dark at 10:00 GMT+8, according to Xiaomi MiMo, with users pointed squarely toward the V2.6 series. This is a forced migration rather than an added option in the catalog. The successor is already spreading its wings: reports say MiMo-V2.6-Pro became available on WorkBuddy yesterday, handling images, video, audio and text, with a context window of 1 million tokens.
Software Ships, but the Scope Is Narrow
On the operating system side, Xiaomi kicked off stable distribution of HyperOS 4 in China on October 15 for the first batch of supported devices. The distinction matters — this is a rollout that has actually started, not a version merely unveiled on stage. Yet it covers an initial device group in China only, so nationwide availability is a stretch to infer. The implementation is the story here, not the version number, and a rollout is not the same thing as a measurable contribution to sales or profit.
Dealer Chatter on SkyNomad Isn't a Rating Change
Deutsche Bank reported positive dealer feedback on Xiaomi's SkyNomad electric vehicle on October 14, adding a data point from the car business to the software news. The signal is qualitative: favorable dealer sentiment is neither a reported sales figure nor an earnings forecast, and the report carried no fresh rating or price-target action. Investors would do well to keep a friendly product read separate from a changed view of the stock.
Should investors sell immediately? Or is it worth buying Xiaomi?
For an actual valuation anchor, look to UOB Kay Hian, which reaffirmed its hold rating on Xiaomi with a target price of HK$27.60 on October 12. That leaves an explicitly wait-and-see stance sitting alongside the upbeat product headlines.
Hardware Pipeline Keeps Filling
Next on the announced calendar is the Chinese launch of the REDMI K100 on October 27 at 19:00 local time, built around a Snapdragon 8 Elite chip plus a separate gaming chip — a hardware unveiling that follows the software rollout already underway. Germany gets devices too: the Robot Vacuum 6 and Robot Vacuum 6 Max, both available immediately per the company.
The Smartphone Math Is the Real Weight
All of this product activity sits against a tougher operating backdrop. IDC's October 15 data for the third quarter of 2026 showed Xiaomi's worldwide smartphone shipments falling 29.2% to 30.7 million units. The decline wasn't Xiaomi's alone, but its drop outpaced the broader market, which IDC pegged as shrinking 22.0% — so general industry weakness doesn't fully explain the gap. Reuters added on October 12 that rising memory chip costs are squeezing the sector, meaning falling shipments and heavier cost pressure form the economic backdrop to the recent product announcements.
Xiaomi at a turning point? This analysis reveals what investors need to know now.
Running in parallel is Xiaomi's Double-11 campaign in China, launched Friday and running through November 15, covering more than 150 products across smartphones, tablets and home appliances. The promotion leans on selling existing inventory while MiMo prepares a shift within the AI lineup. For investors the two carry different weight: the model retirement is product housekeeping, and nothing in these announcements proves the weak smartphone demand has turned.
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