SITENAME Logo

Xiaomi focuses investment in 5G and AI over next five years

More than 50 billion yuan ($7.18 billion) will be invested by Chinese smartphone maker Xiaomi Corp in artificial intelligence and fifth-generation internet technologies over the next five years.


Xiaomi focuses investment in 5G and AI over next five years | BEAMSTART News

The company made this announcement on January 2 but it did not provide specific investment details.

Xiaomi said in October it planned to launch more than 10 5G phone models in 2020.

In November, Xiaomi launched its first smartwatch called the Mi Watch, which looks similar to the Apple Watch.

Xiaomi posted Q3 2019 revenue of 53.7 billion yuan ($7.65 billion), up 3.3% from 51.95 billion yuan ($7.39 billion) revenue it reported in Q2 2019 and 5.5% rise since Q3 2018.

"We need to turn our continuous advantage we have in AIoT and intelligent life into absolute victory in the intelligent full scene, and completely cement our king status in the smart era," Xiaomi Chief Executive Lei Jun said.

BEAMSTART is a Hub for Startup News, Business Networking, and Entrepreneurial Resources. Expand your network, discover new possibilities, and tap into a vast database of resources that can help you go further in your business and career.

 

Download the App

The app for business networking and startup resources. Be part of the global community of CEOs, Business Leaders, and Professionals. Download below to instantly form partnerships and discover opportunities:

PlayStore ButtonAppStore Button

© 2016 - 2021 BEAMSTART. All Rights Reserved (Legal).