Xiaomi is serious: nearly $2 billion spent on the development of the Xring O1 chipset

Chinese technology giant Xiaomi is actively working to reduce its dependence on components from other companies, primarily Mediatek and Qualcomm.

Last week, the corporation presented its own processor Xring O1, which will be used in its new gadgets. Xiaomi does not spare money on the development of its own technologies and now it has become known how much money went into the development of Xring O1.

Here's What We Know

In his blog in the Chinese social network Weibo head Xiaomi Lei Jun said that the company spent $1.8 billion to create the first for many years of its own chipset Xring O1.

Xiaomi will not stop there and over the next 10 years plans to invest at least $7 billion on the development and production of chips for its gadgets.

A staff of more than 2,500 engineers and developers was created specifically for this project.

Recall, in 2017, Xiaomi made an attempt to independently produce chips and released the Mi 5C smartphone with a Surge S1 processor, but the idea failed and the Chinese company returned to buying third-party chips.

Source: Reuters