Xiaomi, the founder of the Chinese tech company, announced on May 19 that it would invest 50 billion yuan ( US$ 6.9 billion ) to develop premium smartphone chips.
One of China’s most well-known client technology companies is Xiaomi, which sells products ranging from smartphones to Batteries and vacuum cleaners.
Lei Jun, the company’s CEO, stated on social media platform WeChat that” chips are the main key record for Xiaomi to tear through in cutting-edge technology, so we will undoubtedly make an effort to create an all-out effort” to mark the 15th year since the company’s establishment.
Xiaomi has developed an investment strategy that includes “at least 10 years of expense and at least 50 billion yuan,” Lei continued.
Xiaomi made its first official move into smartphone electronics with the release of the company’s Surge S1 in 2017.
However, due to technical and financial challenges, the party was forced to stop producing the device, and it has since turned its attention to other parts as well as a move into the electric vehicle industry.
That is not our “dark past,” the statement. That is the course we have taken, Lei wrote on Monday.
According to the businessman investor, Xiaomi’s device development system has already received 13.5 billion yuan in funding for a group of more than 2, 500 people since 2021.
As both countries attempt to give access to the most cutting-edge technology, Beijing and Washington are atheightened technical tensions as a result of the statement.
In response to that conflict, a number of Chinese companies are attempting to create their own chips in an effort to break free from rely on foreign suppliers.
Lei continued,” Xiaomi has always had a” chip dream,” adding,” I sincerely request everyone to give us more time and patience to support our continued exploration on this road.”