Chinese handset maker Oppo on Thursday announced it will invest 10 billion yuan (around $1.43 billion) in Research and Development (R&D) across its global markets in 2019.
With the increased R&D investment, the company will integrate its supply chain and build its technical expertise to enhance its technological capabilities.
Tony Chen, Founder and CEO of Oppo, announced at its technology-focused "2018 Oppo Technology Exhibition" an increase in R&D spending to 10 billion yuan in 2019 which is a 150 per cent year-on-year (YoY) increase and that the company would continue to increase investment on a yearly basis.
"5G is a trend Oppo must embrace. In addition to striving to become the first manufacturer to launch 5G smartphones, Oppo's exploration of application opportunities in the 5G+ era will determine the value of 5G," Chen stressed.
"Oppo will fully integrate 5G with applications and user insights and continuously innovate to provide users with revolutionary, convenient and seamless experiences," he added.
The company is also planning to leverage artificial intelligence (AI) to develop a range of smart devices, including smartwatches and smart home technologies, to explore and meet the increasingly rigid demands of consumers in the age of Internet of Things (IoT).
"In the future, Oppo will fully integrate technological innovation with art and humanity, to develop smart devices and smart homes with the smartphone at their core," Chen said.
The smartphone player established its 5G team in 2015 and began R&D at the onset of 5G standards.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)