Xiaomi to invest at least $6.9 billion in chip design, founder says

BEIJING: Chinese smartphone and electric vehicle maker Xiaomi said on Monday it plans to invest at least 50 billion yuan ($6.93 billion) in chip design over at least 10 years.

The investment sum was flagged by Xiaomi’s founder Lei Jun in a post on social media platform Weibo. A Xiaomi representative told Reuters the 50 billion yuan investment timeline starts from 2025.

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Xiaomi has invested 13.5 billion yuan to self-develop its advanced mobile chip XringO1, Lei said in the post, adding that the company’s chip design unit employs more than 2,500 people.