Tencent launches US$1.5 billion fund to give Chinese scientists freedom to reach new heights of innovation
- New Cornerstone Investigator programme to give scientists up to 5 million yuan a year to do whatever they like
- Most scientists engaged in basic research in China must obtain funding through competitive projects, considered a bottleneck that currently limits creativity
Xiaomi invests big in R&D
By Ma Si | chinadaily.com.cn | Updated: 2022-07-06 20:15
Lei Jun, chairman and CEO of Xiaomi. [Photo provided to chinadaily.com.cn]
Chinese tech company Xiaomi Corp said it is expected to invest more than 100 billion yuan ($14.92 billion) into research and development over the next five years as part of its broader push to sharpen its R&D capabilities and explore new technologies.
Xiaomi also introduced a new series of high-end smartphones, 12S, using Sony imaging sensors and lenses from Leica, a well-known German camera maker.
Lei Jun, chairman and CEO of Xiaomi, said in a post on Weibo the company's compound annual growth rate of R&D investment has exceeded 40 percent in the past five years.
The premium 12S series models are priced from 3,999 to 6,999 yuan. Xiaomi inked a mobile imaging strategic partnership with Leica in May.