Latest news with #Xring
Yahoo
27-05-2025
- Automotive
- Yahoo
Xiaomi first-quarter sales beat estimates on EV, phone growth
(Bloomberg) — Xiaomi Corp. (XIACF, XIACY) reported better-than-expected revenue in the March quarter as it moves to aggressively expand its presence in China's EV market and grow its core smartphone business. NY Private School Pleads for Donors to Stay Open After Declaring Bankruptcy UAE's AI University Aims to Become Stanford of the Gulf NYC's War on Trash Gets a Glam Squad Pacific Coast Highway to Reopen Near Malibu After January Fires Revenue reached 111.3 billion yuan ($15.5 billion), beating the average analyst estimates of 109 billion yuan. The company recorded 75,869 deliveries of its SU7 electric vehicle during the period. Beijing-based Xiaomi is moving ahead with billionaire co-founder Lei Jun's $10 billion strategy to join the ranks of the world's top carmakers. After taking on the likes of Tesla Inc. (TSLA) and BYD Co. (BYDDY, BYDDF) in the crowded EV market last summer, Xiaomi is now pinning its hopes on its first electric sport utility vehicle — the YU7 — which it unveiled last week and will hit the market as early as July. Read: Xiaomi Billionaire Touts SUV, Chinese Chip in Tech Showcase But BYD is certainly not giving Xiaomi an easy time playing catchup. The Chinese EV leader started a new price war earlier this year by adding advanced driver-assistance features across most of its lineup for no extra cost. Last week, BYD again slashed prices by as much as 34%. Xiaomi has come under further pressure following a fatal crash in late March that involved its SU7 model, the company's first sedan. The cause of the accident, which killed three, hasn't yet been announced. The SU7 had its autopilot function turned on at the time of the crash. Just days before the accident, Xiaomi had raised its 2025 delivery target for electric vehicles to 350,000 units. But the company's EV sales took a hit in April, according to Deutsche Bank AG. (DB). The crash also drew growing scrutiny of EV makers' self-driving advertising claims. Xiaomi has fared better on its core business front with the company's smartphone shipments growing 40% year-over-year at home, driven by Chinese government subsidies, according to a recent research note from consultancy Counterpoint. Its share price has also recovered from its March low, surging nearly 90% in the past six months. Xiaomi is moving to shore up support for its mainstay gadget business by designing its own chips, with a plan to spend $7 billion this decade to bulk up its semiconductor muscle. Together with the new SUV, Lei also publicized the self-designed Xring chip and new mobile devices powered by the processor at the same event last week. 'The new processor could diversify its high-end lineups, expand its potential customer base and strengthen bargaining power with chip suppliers, especially Qualcomm,' Bloomberg Intelligence analysts Steven Tseng and Sean Chen said in a note last week. —With assistance from Linda Lew and Debby Wu. Mark Zuckerberg Loves MAGA Now. Will MAGA Ever Love Him Back? Why Apple Still Hasn't Cracked AI Inside the First Stargate AI Data Center How Coach Handbags Became a Gen Z Status Symbol AI Is Helping Executives Tackle the Dreaded Post-Vacation Inbox ©2025 Bloomberg L.P. By subscribing, you are agreeing to Yahoo's Terms and Privacy Policy Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Time of India
22-05-2025
- Business
- Time of India
Xiaomi founder touts new Chinese chip to rival Apple silicon
Xiaomi Corp.'s billionaire founder outlined plans Thursday to outfit its top-end devices with advanced homegrown mobile processors , showcasing the company's ambitions to expand its tech portfolio and compete with American heavyweights. Lei Jun , who shot to fame with bold plans to unseat Apple Inc. in China, gave online viewers a sneak peek at its Xring O1 chip , which he said would power three devices including the Xiaomi Tablet 7 Ultra , another product launched at the same event, livestreamed from Beijing. At 3nm, that processor is aimed at matching Apple and Qualcomm Inc. chips. 'We also want to become one of the top chipmakers, with our phones targeting iPhones, can our chips also be compared against those of Apple's?' he said. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Moose Approaches Girl At Bus Stop In Sankt-peterburg - Watch What Happens Happy in Shape Undo Lei admitted the Xring lags Apple's own chipset in some respects such as processor speed—but stressed it was an achievement for their fledgling design team. The entrepreneur, who often personally hosts product launches, is expected to trot out Xiaomi's first electric sport utility vehicle—the YU7—at the same event. Live Events Xiaomi is keen to push deeper into tech arenas beyond the affordable smartphones and appliances it's best known for. Lei announced plans at the Thursday event to invest 200 billion yuan ($27.8 billion) in research and development over the next five years. It wants to move past a fatal March accident involving one of its signature SU7 sedans that sent orders plunging the following month. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories Xiaomi had raised its 2025 delivery target for electric vehicles to 350,000 units days before that incident, which prompted scrutiny over Xiaomi's self-driving advertising claims. It stoked concerns that the YU7 would be delayed. Bloomberg Lei's most important project is EVs — a $10 billion attempt to take on Tesla Inc. and BYD Co. that the founder has called his final endeavour as an entrepreneur. Bloomberg The market for SUV was more intense than that for sedans, Lei wrote in a social media post, but he believed that the YU7 has its own unique qualities. It won't officially hit the market until at least July, with no pricing released at the Thursday event. Xiaomi won't take pre-orders for the vehicle yet, Lei wrote in a separate post. The company has also announced a $7 billion investment to develop and enhance its own mobile processor over the next decade. Xiaomi's goals mirror Huawei Technologies Co.'s breakthrough a few years ago, which spooked Washington and raised concerns about Chinese advances in strategic technologies such as AI and chips. Among the hard-tech initiatives it's touted since the March incident was an in-house large language model dubbed the MiMo. Executives have reportedly talked about investing in AI in the past, though MiMo is the first real product to emerge. Its foray marks the second big project in as many years for a company best-known for making affordable smartphones and appliances from robot vacuums to rice cookers.
Yahoo
19-05-2025
- Business
- Yahoo
Xiaomi Declares Chip War with $6.9B Bet
Xiaomi (XIACY) is taking its biggest swing yet at chip independencepledging a massive 50 billion yuan ($6.9 billion) investment over the next decade to build out its own mobile processor empire. The Chinese smartphone and EV giant is set to debut its first in-house chip, the Xring O1, on May 22. Built on second-gen 3nm tech, the chip won't be manufactured by domestic foundry SMIC, which is still stuck at 7nm. That suggests Xiaomi may be quietly partnering with a more advanced overseas foundrypossibly in Taiwan or South Koreato get ahead of its domestic rivals. Warning! GuruFocus has detected 6 Warning Signs with XIACY. Founder Lei Jun is framing this as a non-negotiable strategic priority. "A peak we need to climb. A hard battle we can't escape," he wrote. The move mirrors Apple's approach of controlling both hardware and software to tighten ecosystem integration. Xiaomi has already sunk over 13.5 billion yuan into chip R&D and built a 2,500-person semiconductor team. With Huawei struggling to secure advanced chips and Qualcomm still dominating the Android flagship space, Xiaomi's play could change the power dynamicsnot overnight, but the foundation is being laid. The timing is no coincidence. Xiaomi's smartphone margins have been under pressure, and its EV ambitions hit a bump after a fatal SU7 crash earlier this year. That's pushed Lei to double down on core tech as the company's next growth lever. If successful, the Xring chip won't just power Xiaomi's future phonesit could unlock a path to becoming China's version of Apple, controlling its stack from chip to chassis. Investors watching China's tech race should keep this chip rollout on their radar. It could be a slow burn, but it's one that might catch fire. This article first appeared on GuruFocus. Sign in to access your portfolio
Yahoo
19-05-2025
- Business
- Yahoo
Xiaomi Declares Chip War with $6.9B Bet
Xiaomi (XIACY) is taking its biggest swing yet at chip independencepledging a massive 50 billion yuan ($6.9 billion) investment over the next decade to build out its own mobile processor empire. The Chinese smartphone and EV giant is set to debut its first in-house chip, the Xring O1, on May 22. Built on second-gen 3nm tech, the chip won't be manufactured by domestic foundry SMIC, which is still stuck at 7nm. That suggests Xiaomi may be quietly partnering with a more advanced overseas foundrypossibly in Taiwan or South Koreato get ahead of its domestic rivals. Warning! GuruFocus has detected 6 Warning Signs with XIACY. Founder Lei Jun is framing this as a non-negotiable strategic priority. "A peak we need to climb. A hard battle we can't escape," he wrote. The move mirrors Apple's approach of controlling both hardware and software to tighten ecosystem integration. Xiaomi has already sunk over 13.5 billion yuan into chip R&D and built a 2,500-person semiconductor team. With Huawei struggling to secure advanced chips and Qualcomm still dominating the Android flagship space, Xiaomi's play could change the power dynamicsnot overnight, but the foundation is being laid. The timing is no coincidence. Xiaomi's smartphone margins have been under pressure, and its EV ambitions hit a bump after a fatal SU7 crash earlier this year. That's pushed Lei to double down on core tech as the company's next growth lever. If successful, the Xring chip won't just power Xiaomi's future phonesit could unlock a path to becoming China's version of Apple, controlling its stack from chip to chassis. Investors watching China's tech race should keep this chip rollout on their radar. It could be a slow burn, but it's one that might catch fire. This article first appeared on GuruFocus. Sign in to access your portfolio
Yahoo
19-05-2025
- Business
- Yahoo
Xiaomi Declares Chip War with $6.9B Bet
Xiaomi (XIACY) is taking its biggest swing yet at chip independencepledging a massive 50 billion yuan ($6.9 billion) investment over the next decade to build out its own mobile processor empire. The Chinese smartphone and EV giant is set to debut its first in-house chip, the Xring O1, on May 22. Built on second-gen 3nm tech, the chip won't be manufactured by domestic foundry SMIC, which is still stuck at 7nm. That suggests Xiaomi may be quietly partnering with a more advanced overseas foundrypossibly in Taiwan or South Koreato get ahead of its domestic rivals. Warning! GuruFocus has detected 6 Warning Signs with XIACY. Founder Lei Jun is framing this as a non-negotiable strategic priority. "A peak we need to climb. A hard battle we can't escape," he wrote. The move mirrors Apple's approach of controlling both hardware and software to tighten ecosystem integration. Xiaomi has already sunk over 13.5 billion yuan into chip R&D and built a 2,500-person semiconductor team. With Huawei struggling to secure advanced chips and Qualcomm still dominating the Android flagship space, Xiaomi's play could change the power dynamicsnot overnight, but the foundation is being laid. The timing is no coincidence. Xiaomi's smartphone margins have been under pressure, and its EV ambitions hit a bump after a fatal SU7 crash earlier this year. That's pushed Lei to double down on core tech as the company's next growth lever. If successful, the Xring chip won't just power Xiaomi's future phonesit could unlock a path to becoming China's version of Apple, controlling its stack from chip to chassis. Investors watching China's tech race should keep this chip rollout on their radar. It could be a slow burn, but it's one that might catch fire. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
