Xiaomi to Invest $7 Billion in 5G, IoT and Al in Next 5 Years

Xiaomi to Invest $7 Billion

Chinese cell phone creator Xiaomi will contribute more than CNY 50 billion ($7.18 billion) in man-made consciousness and fifth-age Internet innovations throughout the following five years, as rivalry in the segment develops. Xiaomi Chief Executive Lei Jun made the declaration in a letter posted on the organization's online life account on Thursday, however didn't give explicit speculation subtleties. 

The reported speculation builds Xiaomi's vow made a year ago to contribute CNY 10 billion more than five years in an "All in AIoT" methodology. 

The Beijing-based organization began as a moderate cellphone creator yet its Internet-empowered items presently incorporate shrewd TVs and rice-cookers. 

Be that as it may, Xiaomi likewise faces extraordinary challenge in its home market from rival Huawei Technologies, which caught a record 42 percent of China's cell phone showcase in the second from last quarter to the detriment of other neighborhood makers and Apple. 

Lei declared in October the organization wanted to dispatch in excess of 10 5G telephone models in 2020.

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