China's top memory chipmaker, CXMT (688825.SS), will supply its latest LPDDR6 DRAM chips for Xiaomi's upcoming flagship folding phone, the companies said on Saturday.
Xiaomi Corp. launched a mobile processor for its marquee devices, putting pressure on Qualcomm Inc. and MediaTek Inc., which for years supplied the key component to the Chinese company.
Xiaomi Corp. posted profit that fell less than expected, raising hopes it can weather a persistent memory shortage that's weakened demand for smartphones.