Xiaomi: Will invest $ 7 billion in 5G, AI and IoT over the next five years

Η Xiaomi plans to invest more than 50 billion yuan (~ $ 7.18 billion) in AI technologies and fifth generation internet technologies for the next five years, to remain competitive in the developing sector.

Η The announcement was made on the company's social media account by Xiaomi CEO, Lei Jun, but did not provide specific details on how the company would invest the funds.

In his message, o Law explained that Xiaomi should further leverage its work in the field of artificial intelligence (AIoT), saying: 

• Xiaomi has a bold plan to make 5G Smartphones accessible to everyone in 2020.
• Xiaomi will triple its profits despite the slowdown in the smartphone market.
• Xiaomi made one huge mistake with not including WebCam on her latest laptop

"We must turn the advantage we have in AIoT and Smart Bands into an absolute victory on the global smart device scene, and become the No. 1 in the new Smart Age to come".

All about AIoT

Xiaomi's new plan to further invest in AIoT technology reflects the company's promise, which last year invested more than 10 billion yuan (1,43, $ XNUMX billion) over the next five years as part of its strategy "All in AIoT", And now raises that amount to ~ 7.18 billion.

The company's affordable smartphones have led it to success, and now its product range has expanded to include a range of online products under the brand name MIJIA, which includes a variety of appliances, such as smart TVs and even smart rice cookers.

In its home country of China, Xiaomi is facing increased competition from its rival, which is none other than Huawei, which managed to gain 42% of the country's smartphone market share in the third quarter.

To face this competition, Lei revealed in October that Xiaomi plans to release more than ten 5G smartphone this year (2020).

Source