We have already heard in the past that Xiaomi was working on developing it's own samrtphone chip. And while the news was all over the internet, the company had in fact created a separate page on Weibo (a Chinese micro blogging site) with a name Pinecone for the alleged chip. Thus confirming many reports.
However, while things seemed to have settled down a bit, Xiaomi has just announced that it will be unveiling the new in-house SoC next week. The company through its official website and its Pinecone Weibo page announced the news.
Likewise, the company message reads, "Today we are really excited and proud to announce that Xiaomi is going to lift the lid on the details about its own "Pinecone" SoC on 28th February." The company has also posted a teaser for the launch event and it reveals that the event will take place at 2 PM at the Beijing National Convention Centre, China.
Well, now that Xiaomi is getting into the chip business there will be two Chinese smartphone manufacturers that will be producing their own processing units. Huawei currently produces its own chip called the Kirin.
Nonetheless, it will interesting to see what features the new chip will bring into the smartphone domain and also which smartphone will Xiaomi use the new chip in.