Xiaomi launches new Xring chip, partners with TSMC for production, sources say

BEIJING, Aug 24 : Chinese smartphone maker Xiaomi on Monday unveiled a new version of its in-house Xring smartphone processor, betting that deeper control over key components will help strengthen its supply chain and reduce reliance on external chip suppliers.The introduction of Xring O3 comes a year after Xiaomi launched its first proprietary smartphone processor, the Xring O1, marking the latest step in the world's third-largest smartphone vendor's push to join rivals such as Apple, Samsung Electronics and Huawei in developing its own chips.TSMC will manufacture the new chip using its 3-nanometre production technology, two people familiar with the matter said.One of the sources said the chip is expected to power Xiaomi's upcoming flagship folding phone, with a shipment target of 200,000