China's Xiaomi to invest $6.9 billion in chip design over next decade
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Chinese tech giant Xiaomi announced on Monday its plans to invest a minimum of 50 billion yuan (approximately $6.93 billion) in chip design over the next ten years.
The investment sum was flagged by Xiaomi's founder Lei Jun in a post on social media platform Weibo, News.Az reports, citing Reuters.
A Xiaomi representative told Reuters the 50 billion yuan investment timeline starts from 2025.
Xiaomi has invested 13.5 billion yuan to self-develop its advanced mobile chip XringO1, Lei said in the post, adding that the company's chip design unit employs more than 2,500 people.
($1 = 7.2151 Chinese yuan renminbi)
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