China's Xiaomi tells CNBC it's planning a yearly smartphone chip release and its own AI assistant for overseas

Xiaomi plans to release a new smartphone processor chip (a specialized circuit that powers devices) every year, starting with its XRing O1 chip, and is developing its own AI assistant for overseas markets to compete with companies like Apple and Samsung. The company aims to combine its custom chip, HyperOS operating system (software that manages the phone), and AI assistant into devices launching in China this year before expanding internationally, though it may partner with Google's Gemini models for the overseas AI assistant.