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Investing.com -- Xiaomi (OTC:XIACF)’s founder, Lei Jun, announced on Tuesday that the company has commenced mass production of its self-developed Xring O1 advanced mobile chip.
The first two devices to utilize this chip will be the Xiaomi 15S Pro smartphone and the Xiaomi Pad 7 Ultra, according to Lei’s personal Weibo (NASDAQ:WB) account statement.
The company is preparing for a launch event for these products, which is scheduled for Thursday.
Additionally, on Monday, Lei revealed that the development of the Xring O1 chip required an investment of 13.5 billion yuan ($1.87 billion).
He further stated that Xiaomi plans to allocate at least an additional 50 billion yuan towards chip design over the course of the next decade or more.
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