Xiaomi

launched its latest flagship smartphones globally on Saturday as an unprecedented surge in memory chip prices threatens to dampen sales.

The Xiaomi 17 and 17 Ultra represent the Chinese technology giant’s top tier devices aimed at challenging the likes of Samsung and Apple

in the high-end segment of the market.

Xiaomi, which is the third-largest smartphone player globally, has maintained the prices of the devices versus last year’s flagship, even amid the huge jump in memory prices that are critical for smartphones. The Xiaomi 17 starts at 999 euros ($1,179) while the Xiaomi 17 Ultra starts at 1,499 euros.