Xiaomi to invest at least US$6.9 billion in chip design: founder

[BEIJING] Chinese smartphone and electric vehicle maker Xiaomi plans to invest at least 50 billion yuan (S$9 billion) in chip design over at least 10 years starting from 2021, its founder Lei Jun said on Monday in a post on social media platform Weibo.

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