Xiaomi (HKG:1810) will roll out its XringO1 self-developed advanced mobile chip in late May, Reuters reported Thursday, citing remarks by Chief Executive Officer Lei Jun on his Weibo account.
The company designed the XringO1 chip using ARM architecture, and was manufactured by TSMC (TPE:2330) using its advanced 3-nanometer node, according to the report.
The company's mobile chip development comes amid intense competition in the Chinese smartphone market, the report said.
Qualcomm is still Xiaomi's main mobile chip supplier, according to the report.
Shares in the consumer electronics manufacturer rose 2% during afternoon trading on Friday.
(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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