Daily Management Review

Xiaomi invests in Chinese chip maker VeriSilicon


07/16/2019


Xiaomi acquired approximately 6% of VeriSilicon Holdings chip maker, supporting reorganization of its strategy, in which it sees semiconductors as a center of innovation.



Jon Russell
Jon Russell
VeriSilicon Holdings is headquartered in Shanghai, and research and development centers are both located domestically and in the United States. The company works as a contractor for other chip makers, helping them in the design of semiconductor components.

Xiaomi’s investments were noted in documents sent to the China Securities Regulatory Commission (CSRC). They report that Xiaomi has become VeriSilicon’s second largest external shareholder. Xiaomi confirmed the information to Reuters, but did not disclose the amount of investment in money.

Experts note that the largest shareholder of the chip maker is China Integrated Circuit Industry Investment Fund, the Chinese national fund to finance development of the domestic semiconductor industry, also known as the Big Fund.

The company invested its funds after the government identified chips as part of the Made in China 2025 initiative as one of those sectors in which it wants to make China more independent. It is planned to produce 40% of the required volume of microcircuits in the country by 2020, and already 70% - by 2025.

Xiaomi quickly gained ground in the smartphone market and in I quarter of 2019 became the fourth largest manufacturer of these devices in the world (IDC data). Seeking further innovation, the company wants to succeed in chip design. Investment in VeriSilicon is a step in this direction, the agency notes.

source: reuters.com






Science & Technology

Apple to come up with AR glasses

WEF: Big data regulation becomes a problem

Israeli Firm Accused Of Spying By WhatsApp, Lawsuit Filed Against It

Google Used Quantum Computer To Solve Complex Problem

Mars Had Earth-like Salt Lakes

Study: AI is not as profitable as you might think

Porsche, Boeing set to develop flying electric car

Samsung to invest $ 11 billion in new generation displays

US is betting on Nokia and Ericsson to replace Huawei

UPS becomes first to receive full regulatory approval for UAV shipping in USA

World Politics

World & Politics

Has Chile Put All Its Eggs In One Basket To Turn Towards Renewable Energy?

‘We Are Woefully Underprepared’ As Glaciers Meltdown Leaving Global Water Supply At Risk

US to reconsider medical data security laws

Vale hiding information about problems at Brazilian dams could result in death of 270 people

US Lawmakers Introduce Bill About Xinjiang Uygur Camps In China

European Council agrees to extend Brexit again

Pressure From China Forces Maserati To Dissociate From Film Awards Event In Taiwan

China to replace Hong Kong's Carrie Lam