The Chinese smartphone manufacturer Xiaomi has made a significant investment in the hope of eliminating the competition that still exists in the mobile phone industry, and for that nothing better than disbursing 7.17 billion dollars that will be used to in Artificial Intelligence and 5G connectivity for the next 5 years. Also, we remind you that during 2020, we will see at least 10 new Xiaomi smartphones with 5G connectivity.
The person in charge of announcing said investment was Lei Jun, the executive director of Xiaomi, who released an official statement on the company’s social networks, although he did not make specific details of the investment.
“We need to turn the continuous advantage we have into a combination of AI and Internet technologies [AIoT] and intelligent life into an absolute victory in the intelligent scene, and completely cement our status as king in the intelligent era.”
The Beijing-based company started as an affordable mobile phone manufacturer, but today the company has expanded so much that it offers everything from toothbrushes, smart scales or vacuum cleaners to rice cookers, air filters, screwdrivers or televisions.
Xiaomi faces intense competition in its domestic market by its rival Huawei , which closed 2019 with a pretty good record, reaching a 42 percent mobile market share during the third quarter of 2019 in China at the expense of other manufacturers Apple and local.