$7 billion in investments for Xiaomi
Chinese mobile phone company Xiaomi Corp has made significant progress in the field of AI over the past five years and plans to invest more than 50 billion yuan (£5.3 billion) in artificial intelligence and fifth-generation technologies. This investment will help the company stay ahead of its competition in this highly competitive industry as more companies are investing heavily into new technology
Xiaomi’s chief executive Lei Jun made the announcement. There was no mention of concrete details.
“We need to turn our continued advantage we have in AI into an outright win in this landscape. We should establish our dominant status in the smart era,” Lei said.
Xiaomi announced a $10 billion investment into its AI strategy last year, which is a commitment to investing in the future.
The company has been facing strong competition from Huawei Technologies, which has a share of 42% in the Chinese mobile market. Lei announced in October that the company planned to launch more than 10 5G models in 2020. Gather more information on the matter. In the meantime, browse through the wide variety of products on Xiaomi’s official website by following the link.
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Author: PC-GR
The World of Technology
