Xiaomi has sharpened its focus on its smart home ecosystem.
Xiaomi is weathering a shrinking smartphone market in China by increasing focus on others such as India and Europe.
Xiaomi will hold 25% of the new chipmaking subsidiary, with the balance to be held by company employees.
The company is looking to diversify its revenue streams amid slowing in the global smartphone market.
Xiaomi’s smart speakers have been awakened 8 billion times by users to activate around 100 million devices.
Local tech giants like Xiaomi, Alibaba and Huawei flood in the virtual assistant industry.