Xiaomi to launch new self-designed smartphone chip

Xiaomi Corp said it will unveil new self-designed system-on chips, or SoCs, for smartphones later this month, as the Chinese tech company accelerates its ambitions to grow its semiconductor prowess.

Lei Jun, CEO and chairman of Xiaomi, said in a post on social networking platform Sina Weibo that "Xiaomi's self-developed smartphone SoC chip, named Xuanjie O1, is set to debut in late May."