China's Xiaomi to invest close to $7B in chips

1 week ago

Chinese tech giant Xiaomi will invest 50 billion yuan ($6.9 billion) in developing high-end smartphone chips, the firm's founder said. Xiaomi, which sells goods from smartphones to vacuum cleaners and EVs, is one of China's most prominent consumer electronics firms. "Chips are the underlying core track for Xiaomi to break through in cutting-edge technology, so we will definitely make an all-out effort,"