From CNBC: 2025-05-22 08:36:00

Chinese smartphone company Xiaomi is challenging Apple with its new chip, Xring O1, and affordable phone, Xiaomi 15S Pro, starting at 5,499 yuan ($764). CEO Lei Jun claims Xring O1 outperforms Apple’s A18 Pro in heat management. Xiaomi plans to invest 200 billion yuan in R&D over the next five years.

Xiaomi spent 13.5 billion over four years to develop Xring O1, aiming to compete against Apple’s A18 Pro chip. The company plans to invest 50 billion yuan in chip development over the next decade. Xiaomi also introduced its first electric car last spring and plans to release its first SUV in July.

Xiaomi’s electric car, the SU7, had a price $4,000 lower than Tesla’s Model 3. Ford CEO Jim Farley tested a Xiaomi electric car for competition assessment. Xiaomi delivered more than 28,000 vehicles in April, slightly lower than the previous month’s record. The company is set to release its first-quarter results on May 27.

Xiaomi aims to challenge Apple with its new chip, Xring O1, and affordable smartphone, Xiaomi 15S Pro. The company plans to invest 200 billion yuan in research and development over the next five years. Xiaomi CEO Lei Jun claims Xring O1 outperforms Apple’s A18 Pro in heat management and other technical metrics.

Read more: China’s Xiaomi claims new phone chip rivals Apple at a cheaper price