ALBAWABA – Xiaomi, the Chinese multinational technology company, plans to invest $7 billion (50 billion yuan) over the next 10 years to develop its own chip.
Xiaomi to develop its own chip
The company announced plans to develop its own mobile processor chip over the next 10 years. Notably, Xiaomi is expected to unveil its new processor next week, valued at $1.89 billion (13.5 billion yuan) and featuring advanced 3-nanometer technology.
According to experts, the company is investing nearly $7 billion (50 billion yuan) over the next 10 years to develop its own chip, aiming to surpass the US in cutting-edge technology and grow its semiconductor clout.
Xiaomi is investing nearly $7 billion (50 billion yuan) over the next 10 years to develop its own chip, aiming to surpass the US in cutting-edge technology and grow its semiconductor clout. (Shutterstock)
Lei Jun, CEO of Xiaomi, stated: “Chips are a peak we need to climb and a hard battle we cannot escape if we want to become a great hard tech company.”
According to Jun, the company decided to build its own chip back in 2021. Xiaomi has invested approximately $1.89 billion (13.5 billion yuan) over the past four and a half years and plans to invest an additional $840 million (6 billion yuan) in research and development this year.
It is worth noting that Xiaomi has collaborated with Qualcomm, the American multinational corporation, and MediaTek, a Taiwanese fabless semiconductor company, in the development of its mobile processors. The company now plans to invest in creating its own chips to compete with Apple and other major players.
