\tChinese device maker Xiaomi acquired a 6 per cent stake in chip designer VeriSilicon, as the company pushes ahead with a long-term plan to develop its own semiconductors.<\/p>\n
Reuters cited a filing to China Securities Regulatory Commission which revealed the investment, initially made in June and Xiaomi confirmed the move to the publication. Financial details were not disclosed.<\/p>\n
Shanghai-based VeriSilicon\u2019s biggest investor is the China Integrated Circuit Industry Investment Fund, which targets the country\u2019s chip industry.<\/p>\n
China\u2019s government has identified the sector as one it wants to become more self-reliant in, as part of its Made in China 2025 initiative.<\/p>\n
VeriSilicon operates R&D centres in its home market and the US, and works as a contractor to other chip companies, aiding the completion of semiconductor design.<\/p>\n
For Xiaomi, the investment follows the establishment of a separate semiconductor division in 2014.<\/p>\n
Through the unit, it launched its first chip, the Surge S1 which featured in its Mi 5 smartphone.<\/p>\n
It was then revealed the company would spin-off the division into a subsidiary, dubbed Big Fish, focused on making chips for IoT devices.<\/p>\n
As well as Xiaomi, rival Chinese device maker Huawei also has its own chip unit, HiSilicon, which makes Kirin processors for its smartphones.<\/p>\n","protected":false},"excerpt":{"rendered":"
Chinese device maker Xiaomi acquired a 6 per cent stake in chip designer VeriSilicon, as …<\/p>\n
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