Xiaomi (HKG:1810) Founder Lei Jun said the company plans to spend at least 50 billion yuan for chip design over at least 10 years, Reuters reported Monday, citing a post on Weibo.
The investment timeline starts from 2025, the report said, citing Lei.
Xiaomi has so far invested 13.5 billion yuan in the development of its advanced mobile chip Xring01, the report said.
Shares rose 2% during afternoon trading on Monday.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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