tech news

Xiaomi to invest US$7bil in 5G, AI and IoT over next five years

BEIJING: Chinese language smartphone maker Xiaomi Corp will make investments greater than 50 billion yuan (RM29.36bil) in synthetic intelligence and fifth technology Web applied sciences over the following 5 years, as competitors within the sector grows.

Xiaomi Chief Government Lei Jun made the announcement in a letter posted on the corporate’s social media account on Jan 2, however didn’t present particular funding particulars.

“We have to flip our steady benefit we’ve got in AIoT and clever life into absolute victory in clever full scene, and fully cement our king standing within the good period,” Lei stated, utilizing the acronym for synthetic intelligence of issues, a reference to a mix of AI and Web applied sciences.

The introduced funding will increase Xiaomi’s pledge made final 12 months to take a position 10 billion yuan (RM5.87bil) over 5 years in an “All in AIoT” technique.

The Beijing-based firm began as an reasonably priced cellphone maker however its Web-enabled merchandise now embody good TVs and rice-cookers.

Nevertheless, Xiaomi additionally faces intense competitors in its house market from rival Huawei Applied sciences, which captured a file 42% of China’s smartphone market within the third quarter on the expense of different native producers and Apple.

Lei introduced in October the corporate deliberate to launch greater than 10 5G telephone fashions in 2020. – Reuters

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