Xiaomi to invest nearly US$7bil in chips
Xiaomi took initial steps into semiconductors for smartphones with the launch of the firm's first in-house chip -the Surge S1 – in 2017. (EPA Images pic)
BEIJING : Chinese tech giant Xiaomi will invest ¥50 billion (US$6.9 billion) in developing high-end smartphone chips, the firm's founder said today.
Xiaomi, which sells goods from smartphones to vacuum cleaners and electric vehicles (EVs), is one of China's most prominent consumer electronics firms.
Writing on social media platform WeChat to mark the 15th year since the company's establishment, Lei Jun said: 'chips are the underlying core track for Xiaomi to break through in cutting-edge technology, so we will definitely make an all-out effort'.
'In pursuit of Xiaomi's semiconductor ambitions, the firm has developed an investment plan involving 'at least 10 years of investment and at least ¥50 billion',' Lei added.
Xiaomi took initial steps into semiconductors for smartphones with the launch of the firm's first in-house chip -the Surge S1 – in 2017.
However, the group was forced to halt production of the chip due to technical and financial obstacles, and has since refocused on other components as well as a move into the EV sector.
'That is not our 'dark history'. That is the path we have travelled,' wrote Lei today.
'Since 2021, Xiaomi's chip development programme has already received ¥13.5 billion in research and development funds for a team of more than 2,500 employees,' said the billionaire entrepreneur.
The announcement comes in the face of heightened technological tensions between Beijing and Washington as both nations seek to ensure access to the most advanced components.
A number of Chinese firms are racing to develop their own chips with the aim of freeing themselves from reliance on foreign suppliers in the face of that rivalry.
'Xiaomi has always had a 'chip dream',' Lei wrote, adding: 'I earnestly request everyone to give us more time and patience to support our continued exploration on this road'.
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