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Xiaomi to invest $7b towards 5G
January 03, 2020
Chinese smartphone technology company Xiaomi says it plans to invest $7b in artificial intelligence, 5G and Internet Of Things technologies over the next five years.
Xiaomi is one of the leading smartphone companies in China and has been competing with its biggest rival, Huawei. Huawei has captured 42% of China’s market and is growing at a fast rate.
Xiaomi has expanded to other gadgets and devices as well like laptops, Smart TVs and household appliances. The competition is major faces is in the smartphone market.
Xiaomi’s Chief Executive Officer Lei Jun said on Thursday that “We need to turn our continuous advantage we have in AIoT and intelligent life into absolute victory in the intelligent full scene, and completely cement our king status in the smart era.”
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