Xiaomi launches new chip in partnership with TSMC, Reuters reports

Xiaomi, the Chinese smartphone manufacturer, announced on Monday the launch of its new in-house smartphone processor, Xring O3, according to Reuters. This move is part of Xiaomi's strategy to increase control over key components and reduce dependence on external chip suppliers. The Xring O3 processor is Xiaomi's successor to the Xring O1, which was introduced last year as the company aims to compete with tech giants like Apple, Samsung Electronics, and Huawei in the development of proprietary chips.

Taiwan Semiconductor Manufacturing Co (TSMC), located in Taiwan, will produce the new processor using its cutting-edge 3-nanometre technology, as reported by Reuters. The chip is anticipated to be integrated into Xiaomi's upcoming flagship foldable phone, with a shipment target ranging from 200,000 to 300,000 units.

This development is part of a broader industry trend where smartphone makers are increasingly developing their own chips to create unique premium devices and decrease reliance on suppliers such as Qualcomm and MediaTek.