China-based chip company qi software developer has announced it has bought a majority stake in the Beijing-based firm that has been a pioneer in developing high-speed mobile chips, the Lad Bible reported.
“We are delighted to join with QI in a strategic partnership that will create a leading-edge technology company in China that will bring our technology to a whole new audience,” the company’s chief executive, Li Jin, said in a statement.
Qi has made waves with its high-performance ARM chips that are now used in Apple’s iPhones, the Apple Watch and Samsung’s Gear S3.
It has also become a key supplier of chips for Samsung and Xiaomi smartphones.
The company has been heavily involved in the development of mobile chips for the US military, but it also has a large presence in China, where its chips are increasingly used to power devices including the iPhone and the Xiaomi Mi Band.
In a statement, qi said it was adding QI’s strategic partnership to the firm’s portfolio of technologies and services, including technology-related products and products-enabled services.
Chinese President Xi Jinping has been aggressively pushing for China to develop its own high-tech industries and has vowed to create a “super-rich country”.
QI said it had already started work on a series of strategic partnerships with Chinese companies.
It said it would also invest heavily in new technologies to support the development and operation of QI-designed products.
The company’s CEO said it plans to invest about $4 billion in QI as it develops its technology.
Qiang Xin, the head of Qiang Xin Technology, said QI had invested in Qiang Technology for about two years.
He said the company would build on its existing technology base to develop new products.
“We plan to develop the technology base with Qiang Technologies to build a new company in a new direction and build new technologies, so that we can support and develop this technology in China,” he said.
A spokesman for Qiang, Jiang Xu, said the firm would take the lead in the new venture.
“Our goal is to build an advanced technology company that will provide our customers with the best products and services,” he told the Lad.
China’s government has been trying to develop a globalised mobile chip industry since 2015 when it launched the Global Industry Blockchain Technology (GIBTT) programme.
There are also plans to develop Chinese-made mobile chips in other countries.
At the time, Chinese President Xi promised to boost the country’s industry by developing its own chip technology.