Morgan Stanley published a report stating that the Xiaomi 17 series smartphones achieved first-day sales and revenue exceeding all-time records for domestic brands in the same industry by 2025. Another surprise was that the top-end model, the 17 Pro Max, accounted for over 50% of first-day sales, indicating that Xiaomi's share of the high-end smartphone market may be increasing at a faster pace. Based on initial feedback, the innovative rear-screen design has successfully attracted consumers. Morgan Stanley believes that this sales achievement demonstrates the effectiveness of Xiaomi's strategy, which includes focusing on optimizing the user experience in high-end model designs; strengthening its offline distribution network to lay the foundation for high-end market penetration; and enhancing the appeal of high-end products through differentiated features (such as the rear-screen). The bank has an "overweight" rating on Xiaomi with a target price of HK$62.