Chinese technology giant Xiaomi is slated to introduce a 3-nanometer mobile chip this week and plans to invest around $7 billion in chip design over a decade, its founder said.
The moves by the Beijing-based company, best known for its smartphones and home appliances, come as China is ramping up efforts to achieve self-sufficiency in the semiconductor industry amid U.S. trade tensions.
Founder and Chief Executive Lei Jun disclosed the investment amount in a post on Chinese social-media platform Weibo on Monday. A Xiaomi spokesperson said the timeframe for the 50 billion yuan investment, equivalent to $6.94 billion, begins from 2025.
Besides the Xring O1 mobile chip launch, the company is also set to unveil its first electric sport-utility vehicle, the YU7, and the new Xiaomi 15S Pro smartphone on Thursday.
Lei said the company had invested 13.5 billion yuan to develop its advanced mobile chip.
In a separate Weibo post, state media CCTV said Xiaomi’s 3-nanometer chip marks a breakthrough in Chinese chip design and keeps up with international technological advances.
The 3-nanometer chip could give Xiaomi a competitive advantage in China over Huawei Technologies, which has been struggling to develop more advanced chips due to U.S. sanctions.
Xiaomi’s Hong Kong-listed stock rose 2.65% on Monday, taking its gain this year to more than 50%.
