CHINA BRIEF | Xiaomi moves in on chip industry with investments in two suppliers

Xiaomi has become a shareholder of two chipset companies, as the Chinese smartphone maker seeks to expand in the chip industry, local media 36Kr reported.

Through the Hubei Xiaomi Yangtze River Industrial Fund, the investment arm of Xiaomi, the company took a 1.38% stake in Shanghai-based chipset company ASR Microelectronics on Monday, just a few days after it became the third-largest external shareholder of Beijing-based OnMicro Corporation with a 6.98% stake.

Founded in 2015, ASR Microelectronics focuses on chips for a variety of consumer electronics uses, including mobile intelligent terminals, Internet of Things devices, and navigation. The company’s biggest shareholder is Alibaba, with a 21.75% stake.

36Kr is KrASIA’s parent company. 

This article is part of KrASIA’s “China Brief” section, where KrASIA’s reporters will provide quick daily updates about the tech ecosystem in China.