Xiaomi Invests in Chip Designer VeriSilicon, a Move to Produce Own In-House Chips
Xiaomi has previously shown interest in making their own semi-conductor chips, but well that dream hasn’t been seriously worked for –as far as we know.
Reuters has hinted the Chinese tech company has secured a 6% stake in a Chinese chip designer company –VeriSilicon Holdings Co Ltd. VeriSilicon in a filing to the China Securities Regulatory Commission (CSRC) published online by the CSRC reveals that a fund run by Xiaomi became the second-largest external shareholder in June.
Xiaomi has already confirmed the news, but the company is keeping it secretive regarding the monetary value of the deal.
The news comes at the time when the Chinese government is encouraging the country to become self-reliant in several sectors of the economy, including the semi-conductor industry as part of their “Made in China 2025” campaign.
Xiaomi’s ambition to produce its own in-house chips started back in 2014 when they first launched their semi-conductor division. Three years later the company made its first system-on-chip, Surge S1 in 2017 which powered their premium flagship device –Xiaomi Mi 5C that year.
However, since then, the company had provided no update on their semi-conductor division till April this year, when they distributed part of the chip-business to a new subsidiary focused on making chips that power IoT devices.
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