Chinese tech giant Xiaomi will invest 50 billion yuan ($6.9 billion) over the next 10 years to develop advanced smartphone chips, company founder Lei Jun announced on Monday.
Marking the firm’s 15th anniversary, Lei said on WeChat that chip development is crucial for Xiaomi’s push into cutting-edge technology and self-reliance in semiconductors. “Chips are the underlying core track for Xiaomi to break through,” he stated.
Xiaomi first entered the chip market in 2017 with the Surge S1 but halted production due to technical and financial challenges. Since 2021, the company has already invested 13.5 billion yuan in chip R&D and built a team of over 2,500 engineers.
This renewed push comes amid escalating tech tensions between China and the U.S., prompting Chinese firms to accelerate efforts to reduce dependence on foreign chip suppliers. Lei called on the public for “more time and patience” as Xiaomi continues its long-term pursuit of semiconductor innovation.
