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(Yicai Global) Jan. 2 -- Xiaomi will invest over CNY50 billion (USD7.2 billion) in fifth-generation wireless network communication and Artificial Intelligence of Things technologies over the next five years, its Chairman Lei Jun said in a company circular today.
5G + AIoT is a service capability that runs through the company's entire product range that will enhance the advantages of AIoT and smart living, Lei stated.
Chang Cheng, a former Lenovo Group vice president, has joined Xiaomi as VP in charge of mobile product planning, Lei also announced in the memorandum.
Editor: Ben Armour