Xiaomi, which is registered with HK, plans to make its own microchips for smartphones, another Chinese company that is betting on the chip segment, the company announced today.
Major smartphone companies including Apple, Huawei and Samsung have their own self-developed chips. The chip strategy will help Xiaomi to expand into high-end market segments, analysts said.
Xiaomi will announce details of their chip strategy at their spring product distribution conference on Monday, according to the company’s enterprise role for the conference.
Meanwhile, Xiaomi will start selling its Mix models this year, the company’s flagship price line.
In 2020, Xiaomi posted a net profit of 13 billion Yuan, a 12.8 percent year-over-year growth, selling 146 million units – a 17.5 percent growth from a year ago.
The company’s smartphone sales growth has been limited due to a shortage of chips, Xiaomi president Wang Xiang said.
Today, Xiao denied a report saying the company is considering making electric cars.