Xiaomi to invest $7bn in 5G, AI development in its products

Kenneth Afor

As competition gets stiffer for top smartphone makers in retaining dominance in the global mobile telephony market, Xiaomi Corp, the next-rated Chinese smartphone maker has announced that it would invest more than $7.18 billion in fifth-generation (5G) internet technologies and artificialiIntelligence (AI) in its products over the next five years.

This move as announced on Thursday by Lei Jun, the company’s chief executive is to keep afloat with other competitors as demand for advanced technology in mobile telephony rises.

Jun, in his post on the company’s social media account, said it will leverage on the various areas in the mobile telephony sector where technology has advanced which could make the everyday human activities smarter and better also an opportunity for the company to maintain the lead in the digital smart era.

“We need to turn our continuous advantage we have in Artificial Intelligence of Things (AIoT) and intelligent life into absolute victory in intelligent full scene, and completely cement our king status in the smart era,” Jun said.

Also, the company hopes to flood the market with 10 5G smartphones in 2020.

The Chinese smartphone marker is the latest smartphone company to have entered the Nigerian market with its affordable and exotic android smartphone devices ‘redmi’ in its various models in which most of it is 5G enabled and other state-of-the-art features. Since its entrance, it has gained the hearts of most smartphone enthusiasts in the country.

With this move, the Chinese-based company is looking out to measure up with its rival Huawei Technologies which has more dominance in China’s smartphone market.

According to data, Huawei Technologies has significantly captured a record of 42 percent of China’s smartphone market in the third quarter of 2019 thereby taking advantage of other local manufacturers and the American giant, Apple.