China's Xiaomi commits $6.9 billion to in-house chips

In this photo illustration, the logo of Xiaomi's XRing O1 chipset is seen on May 19, 2025 in Beijing, China. Xiaomi CEO Lei Jun announced on the evening of May 15 that the company's self-developed smartphone SoC, XRING 01, will be officially launched in late May. Chinese technology giant Xiaomi will invest at least 50 billion yuan ($6.9 billion) over the next 10 years to develop its own chips, CEO Lei Jun said in a Weibo post on Monday. It's the latest move by a Chinese firm to double down on home-grown technology amid the ongoing trade war between the U.S. and China that has seen Washington cut off access to some semicondcutors for companies in the world's second-largest economy. The 50 billion yuan investment starts from 2025, a Xiaomi spokesperson confirmed. Lei added the company is looking to make a splash at an event on Thursday, when it takes the wraps off the Xring O1 — a so-called system-on-chip that will power Xiaomi's upcoming smartphone. The Xring O1 is based on a 3 nano ... Read full article.