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.

Ismawati Asmat 3 Jan, 2020

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

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.

Ismawati AsmatAuthor

Translator/Content Writer

Share this Story

More Stories

BEAMSTART News covers the latest stories on Business, Finance, and Opportunities in Asia. We are an extension of global partnerships platform BEAMSTART.

Stay updated with us via our channels below:


Download the App

Be part of the global community of CEOs, Business Leaders, and Professionals. Download below to instantly form partnerships and discover opportunities:

© 2016 - 2020 BEAMSTART. All Rights Reserved.