Xiaomi is stepping up big with its own chip, the XRING 01, aiming to build more phone tech in-house and stay ahead of the pack. CEO Lei Jun revealed the chip’s name on Weibo, with a launch expected before May wraps up.

Xiaomi founder Lei Jun announced via social media that the company will officially launch its first self-developed smartphone system-on-chip (SoC), the Xring O1, by the end of May. This marks a significant milestone in Xiaomi's long-standing efforts to develop its own core smartphone components.

Google, Samsung, and HUAWEI all design their own smartphone chips, and another major brand has just announced that it'll join the party.