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International Business Times
International Business Times
Business

China's Xiaomi To Invest Nearly $7 Bn In Chips

Xiaomi China Lei Jun
Xiaomi took initial steps into semiconductors for smartphones with the launch of the firm's first in-house chip -- the Surge S1 -- in 2017 (Credit: AFP)

Chinese tech giant Xiaomi will invest 50 billion yuan ($6.9 billion) in developing high-end smartphone chips, the firm's founder said on Monday.

Xiaomi, which sells goods from smartphones to vacuum cleaners and EVs, is one of China's most prominent consumer electronics firms.

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International Business Times UK
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