Another Chinese Chip Design Venture Is Shutting Down

What’s new: Chinese smartphone and consumer-electronics maker Xingji Meizu Group has decided to shutter its chip design unit, marking another setback to China’s campaign to become self-sufficient in all aspects of the chip industry.

The company, owned by Zhejiang Geely Holding Group Co. Ltd., confirmed with Caixin on Tuesday that it plans to terminate its chip design business due to uncertainties in the global economy, and to focus more on product innovation and software user experience. The company is currently coordinating with its employees on “personnel optimization plans,” a spokesperson said.