Xiaomi to Put $7.2 Billion in 5G, AI, and IoT – EnterpriseTalk
Xiaomi, the Chinese electronics company, is investing $7.2 Billion (50 billion Yuan) for 5G, AI, and IoT in the next five years. Xiaomi is experiencing fierce competition is its business as its peers; especially Huawei is trying to erode the market shares of the minors. Hence, it is continuing to carry on decent business growth.
As per Lei Jun, founder of Xiaomi, 2020 is going to be critical for them in their bid about pushing the major growth engines- smartphone and AIoT (AI+IoT) strategy. The company initially planned for 10 billion Yuan investment for five years but gradually decided to invest more. It is to support the strategic movement in the era of ‘5G+AIoT’.