A unit of Xiaomi Corp. is reportedly a cornerstone investor in SF Holding Co."s upcoming Hong Kong share sale, which aims to raise approximately $800 million. SF Holding, China"s largest express-delivery company, is set to begin taking investor orders as early as Tuesday.
Chinese tech stocks in Hong Kong have fallen approximately 20% from their October peak, driven by investor caution amid rising geopolitical risks and concerns over earnings. The Hang Seng Tech Index declined by 3.2% on Thursday, with JD.com Inc and Xiaomi Corp significantly contributing to the downturn, which also impacted the broader Chinese share market, down 2.2%.
Oppo is intensifying its focus on artificial intelligence, engaging in weekly discussions with Google and Microsoft to enhance its flagship smartphone with advanced AI features. The company aims to integrate generative AI into 50 million devices this year, while also automating its manufacturing processes to improve efficiency and reduce costs. With a significant portion of its revenue coming from overseas markets, Oppo is positioning itself as a key player in the global smartphone industry amidst the growing demand for AI applications.
Chinese smartphone companies, including Honor and Xiaomi, are enhancing their AI capabilities ahead of Apple's upcoming product launch. Honor's new Magic operating system features an AI assistant that can perform tasks like ordering coffee and making calls without user interaction, set to debut with the Magic 7 smartphone on October 30. Meanwhile, Apple faces challenges in the Chinese market, with a slight decline in revenue from the region, as competition intensifies with foldable devices and advanced AI features from rivals.
Qualcomm is enhancing its mobile phone chips by integrating technology initially developed for its laptop chips, specifically for generative AI tasks. The Snapdragon 8 Elite chip will feature custom computing technology branded as “Oryon,” with additional tools for software developers. Major manufacturers, including Samsung, Asustek, and Xiaomi, are set to adopt this new chip.
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