(Yicai Global) Dec. 10 -- Chinese smartphone maker Oppo Guangdong Mobile Communications plans to invest CNY50 billion (USD7 billion) on research and development of the next three years in order to shore up its strength in contemporary tech.
The cash will go toward fifth- and sixth-generation networking, cloud computing and artificial intelligence, as well as the underlying hardware and software engineering, news site The Paper cited Chief Executive Chen Mingyong as saying at Oppo Inno Day in Shenzhen today.
Oppo is one of China's best-known phonemakers and snagged a 9 percent share of the global market in the third quarter, ranking fourth behind Samsung, Chinese compatriot Huawei, and Apple, according to data from Hong Kong market researcher Counterpoint.
The firm also plans to launch smart watches, robots and other new products in future, Chen added.
Editor: James Boynton