Xiaomi Announces $7 Billion Investment in Mobile Chip Development Over 10 Years
Xiaomi has announced a major step toward self-reliance in chip technology, revealing plans to invest nearly $7 billion (50 billion yuan) over the next decade to develop its own mobile processors. The company aims to reduce its dependence on global chipmakers like Qualcomm and MediaTek by building in-house semiconductor capabilities. Xiaomi’s co-founder Lei Jun emphasized the strategic importance of chip development, calling it a “hard battle” necessary for Xiaomi’s transformation into a leading technology company.
The company is set to unveil its first self-developed chip, the Xring O1, on May 22. Built using second-generation 3-nanometer technology, the chip represents a significant advancement. However, Xiaomi has not disclosed which global foundry is producing it, as China’s top chipmaker SMIC is limited to 7nm due to U.S. export controls.
Chip initiative was started by Xiaomi in 2021 and so far, the company has invested 13.5 billion yuan while it has planned 6 billion yuan for research and development in 2024. Currently, more than 2,500 engineers are working in Xiaomi’s semiconductor division.
This move aligns with China’s national ambition to advance in semiconductors and could help Xiaomi compete more effectively against rivals like Apple and Huawei, while also supporting its diversification into electric vehicles.
Source: Business Standard
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