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Meanwhile, apple spent $5 billion on advertising, milks same outdated overpriced iPhones at 75% profit margin.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.
After the infra set up the next thing you know US is banning Xiaomi.
Xiaomi is the most prestigious brand of phones in China. For sure they are going to make cutting-edge, beautiful products. Not any cheap, though.
China IS way ahead of us !
Xiaomi is a great company which offers hi-tech products at very affordable price.
You wonder why US is behind 5 G technology? That's because Wall Streets want profit for the next quarter instead of long term. One can criticize China but at least the go nment is doing something for its people. Meanwhile back in the US we just worry about the next quarter and give away the future. And the CEOs are keeping their multi million dollar compensation instead working for the future of this country.
We'll be giving the same amount each and every year to the Israeli parasites and then wonder why the chins are so much more advanced in tech and infrastructure
NEWS UPDATE: The Chinese Communist Party will invest $7 Billion in 5G and A.I.
All Chinese people worldwide should unite for a better China future.Support China and Xiaomi
Meanwhile the US will invest US taxpayer money in more military #$%$ so it can drop more bombs in the Middle East.
Well done Xiaomi indeed, keep up with the good work
Invest in Ameica and Americans? Na. Another multi $trillion Israeli proxy war that benefits only the Israeli parasites? Sure.
That's a lot of dough.
Better if these responsible corporations invest in how to remove litters from land, Sea and air! Then it would be good. All technology endroad are electronic wastes.
America's college are sewers of liberal and foreign anti-American criminals.
thousands of Chinese professors and students swarming the far left liberal colleges are copying & transferring all our technology daily to mainland China.......at our expense !Google is America 's PREMIER SPY AGENCY. They always work for the highest bidder .
Xiaomi is copycat garbage. They invent nothing. They reverse engineer and sell cheap electronics without funding R&D efforts. This is also how the Chinese go nment works.