Investing.com -- Xiaomi (OTC: XIACF ) Corp, the Chinese smartphone and electric vehicle manufacturer, is set to introduce its self-developed mobile chip, the XringO1, in late May. This announcement was made by the company’s founder, Lei Jun, on the social media platform Weibo (NASDAQ: WB ) last Thursday.

Xiaomi’s move into self-developed chips marks a significant step for the company. With the launch of the XringO1, Xiaomi joins a select group of smartphone manufacturers that develop their own chips. The XringO1 is expected to enhance the performance of Xiaomi’s products, and could potentially give the company a competitive edge in the smartphone and electric vehicle markets.

Details about the specifics of the XringO1 chip are yet to be disclosed. However, the industry is eagerly anticipating the late May launch, as it could signal a new chapter for Xiaomi and its technological capabilities.

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