Xiaomi Plans To Invest $7 Billion Yuan In 5G And AIoT

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Xiaomi 5G And AIoT

Xiaomi, leading Chinese smartphone maker corp., has planned to invest around 50 Billion Yuan, or just over $7.2 Billion in US dollars on two different technologies, 5G network, and AIoT over the next five years. As these technologies will completely transform 2020 to all-new levels.

Lei Jun, CEO of Xiaomi, has currently revealed in an announcement, “We need to turn the continuous benefit we have in artificial intelligence of things and intelligent life into complete success in intelligent full scene, and fully cement our king status in the smart era,”. The company official has not provided any specific details on how the money would be invested. Xiaomi had previously pledged to invest around 10 Billion Yuan over five years just all in AIoT strategy.

Xiaomi 5G And AIoT, Xiaomi Plans To Invest $7 Billion Yuan In 5G And AIoT

5G lab has already launched by Xiaomi with the China Telecom company. Also Xiaomi has launched the Redmi K30 5G powered with Qualcomm Snapdragon 765G chipset which offers an integrated 5G network modem.

Xiaomi is one of the biggest and leading Chinese smartphone company and has since expand onto other devices other than just mobile phones they include laptops, Smart TVs, and some household appliances like smart rice cookers. But it’s not just Xiaomi that is investing in the future. Its biggest rival, Huawei technologies Co.Ltd., dominates the market with 42% of market share, continues to grow from strength to strength, and is aggressively investing and working on 5G technology in domestic firms.

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