Chinese smartphone maker Honor will spend $10 billion over the next five years on developing AI for its devices as the former Huawei unit prepares for a public listing, its CEO James Li said on Sunday.

Honor is looking to expand outside of China and push into the higher-end part of the market where Apple and Samsung play.

HONOR Device, one of China’s biggest smartphone makers, plans to invest US$10 billion over the next five years to become a contender in the artificial intelligence (AI) race. Read more at The Business Times.

Chinese smartphone maker Honor has announced plans to invest $10bn (72.8bn yuan) over the next five years in AI development for its devices, as the company positions itself for a future public listing.

Chinese smartphone manufacturer Honor said it will invest more than $10B over the next five years on developing AI for its devices, as part of its larger strategy to transform into a global AI device ecosystem company.