Chip charge: Chinese phone, car, home appliance companies join semiconductor rush

FILE PHOTO: People visit a display of semiconductor device at Semicon China, a trade fair for semiconductor technology, in Shanghai, China March 17, 2021. REUTERS/Aly Song/File Photo

SHANGHAI (Reuters) - Smartphone maker Xiaomi has joined a rush of Chinese tech companies venturing into the semiconductor sector, announcing on Wednesday a new chip to help smartphone cameras process images.

Xiaomi's Surge C1 chip was developed after an earlier unsuccessful attempt at producing a smartphone processor and comes as Chinese internet giants, automakers, and even home appliance firms invest heavily in semiconductor research and development.