Xiaomi is set to invest at least 50 billion yuan (approximately $7 billion) into chip development over the next decade, starting from 2025. This was reported by Reuters, citing a representative from the company.

The founder of Xiaomi, Lei Jun, has revealed that the company has already spent 13.5 billion yuan on the creation of the new mobile processor XringO1. More than 2500 specialists are working on this project.

The new investments aim to solidify Xiaomi's position in the mobile chip market and enhance control over key technologies amid rising competition in the smartphone and electric vehicle sectors.