Xiaomi Unveils Ambition as a 'Semiconductor Company'... "To Invest 9.6 Trillion Won Over 10 Years"

Announcement of Self-Developed Mobile Chip on May 22
"Development Team Exceeds 2,500 Members"

Lei Jun, the founder and CEO of Xiaomi, one of China's leading big tech companies, announced on May 19 that the company will invest at least 50 billion yuan (approximately 9.6 trillion won) in the semiconductor sector over the next 10 years.

Lei Jun Xiaomi founder.

According to major foreign media outlets, CEO Lei Jun stated on social media platform WeChat that Xiaomi will hold a launch event for its self-developed mobile system-on-chip (SoC), "Xuanjie O1" (玄戒O1·XringO1), on May 22. He said, "Chips are a core part of Xiaomi's efforts to secure cutting-edge technology, so we will spare no effort," and announced the investment plan of at least 50 billion yuan over at least 10 years in the semiconductor field.

He mentioned that Xiaomi had developed the "28-nm Pengpai S1" mobile chip in 2017 and launched it with its own smartphone, the "5C," but discontinued chip development in 2019 due to technical and financial issues. He remarked, "This is not a dark chapter in our history, but rather the path we have walked." He added that since 2021, the total amount invested in the development of "Xuanjie" has reached 13.5 billion yuan (approximately 2.6 trillion won) as of the end of last month, and that the development team now consists of more than 2,500 people.

He stated, "Xiaomi has always had a 'semiconductor dream,'" and requested, "Please support us with more time and patience so that we can continue to explore this path." Previously, on May 15, when he announced the launch plan for "Xuanjie 01," he emphasized in an internal speech that "this chip launch is a milestone in Xiaomi's independent chip manufacturing over the past 10 years, and at the same time, it marks a new starting point for Xiaomi's progress in hardcore science and technology."