Xiaomi (XIACF) has begun preparations for a self-designed chip for its smartphones in a move to reduce its reliance on Qualcomm (QCOM) and MediaTek, with mass production set to begin in 2025, Bloomberg’s Debby Wu and Yuan Gao report, citing people familiar with the matter.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on QCOM:
- Qualcomm (QCOM) Might Be Among the Best Tech Bargains – Here’s Why
- Intel’s (NASDAQ:INTC) CHIPS Act Payout Will Be $7.87 Billion
- Qualcomm interest in Intel acquisition has cooled, Bloomberg reports
- Qualcomm analyst day left BofA ‘upbeat’ on market positioning, long-term targets
- Qualcomm price target lowered to $210 from $230 at Susquehanna