Xiaomi CEO Lei Jun announced a 10-year plan to invest approximately $7 billion in developing its own mobile chips, aiming to follow Apple’s system-on-a-chip (SoC) model that powers its iPhones and Macs.

The company plans to unveil its first chip from this effort, the Xring 01, on May 22, using advanced 3-nanometer process technology.

This initiative marks Xiaomi’s renewed commitment to in-house chip design after previous setbacks and is part of a broader trend among Chinese firms to develop key technology independently.

Lei emphasized the importance of chip development as a core challenge for Xiaomi to become a leading technology company, acknowledging the significant investment and difficulty ahead.