Xiaomi to invest $7 billion in 5G, AI and IoT over next 5 years
BEIJING (Reuters) - Chinese smartphone maker Xiaomi Corp will invest more than 50 billion yuan ($7.18 billion) in artificial intelligence and fifth generation internet technologies over the next five years, as competition in the sector grows.
Xiaomi Chief Executive Lei Jun made the announcement in a letter posted on the company's social media account on Thursday, but did not provide specific investment details.
"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," Lei said.
The announced investment increases Xiaomi's pledge made last year to invest 10 billion yuan over five years in an "All in AIoT" strategy.
The Beijing-based company started as an affordable cellphone maker but its internet-enabled products now include smart TVs and rice-cookers.
However, Xiaomi also faces intense competition in its home market from rival Huawei Technologies, which captured a record 42% of China's smartphone market in the third quarter at the expense of other local manufacturers and Apple.
Lei announced in October the company planned to launch more than 10 5G phone models in 2020.
译文来源：三泰虎 http://www.santaihu.com/49108.html 译者：Joyceliu
Only 7B over 5 years?? That’s a small change in high tech and they will be way behind!
Time to sanction Xiaomi. US cannot let any tech challenge.
Xiaomi will invest? Time to investigate. Is Xiaomi truly investing or is China’s Central Government funding or significantly subsidizing the effort? One of the big complaints about China has been the large extent to which the Central Government subsidizes companies & Projects. The problem with such an arrangement is the anti-competitive nature of the arrangement which will make it very difficult for the US & other Western Governments to compete effectively. It becomes a case for a private company trying to compete against a Government with almost unlimited funding & the ability to tailor regulation to favor it’s own subsidized efforts.
5G, AI, loT are all projects through which the Chinese Central Government could benefit mightily through personal data gathering being fed back to the Central Government.
xiaomi uses Qualcomm chips.we need to boycott the Chinese brand.
" Xiaomi" you mean, "Chinese govt will invest 7 billion" there, fixed it
Meanwhile, apple spent $5 billion on advertising, milks same outdated overpriced iPhones at 75% profit margin.
A great success story for China's Xiaomi indeed.
The comment area is for people who don't read the article to make comments to people who are too lazy to read the article.