Xiaomi will invest over CNY 50 billion in AI, 5G technologies over the following five years, as rivalry in the sector grows. Lei Jun Xiaomi Chief Executive made the declaration in a letter posted on the organization’s social media account on Thursday, however didn’t give explicit venture subtleties.
The reported venture expands Xiaomi’s promise made a year ago to contribute CNY 10 billion more than five years in an ‘All in AIoT’ strategy. The Beijing-based organization began as affordable smartphone creator yet its Internet-empowered items presently incorporate keen TVs and rice-cookers.
Nonetheless, Xiaomi likewise faces extraordinary challenge in its home market from rival Huawei Technologies, which caught a record 42 percent of China’s phone market in the second from last quarter to the detriment of other local manufacturers and Apple. Lei reported in October the organization intended to dispatch in excess of 10 5G smartphone models in 2020.
Lei said in a statement, “We need to turn our continuous advantage we have in AIoT and intelligent life into absolute victory in intelligent full scene, and completely cement our king status in the smart era.”