Unisoc, a Shanghai-based chipset company, is also working on SoC with support for next-gen connectivity, a GSMAarena report said, citing sources in Taiwan.

This isn't the first Xiaomi in-house chipset either. Back in 2017, the maker revealed the Surge S1 chip, built on the 28nm process and powering the Xiaomi Mi 5c smartphone, the report said.

"Since then, we haven't seen much from the chip division until the arrival of the Surge C1 -- a dedicated ISP for the Mi Mix Fold camera," it added.

Last week, a report said that tech giant Google is working on its own chipset codenamed Whitechapel that will power its upcoming Pixel 6 device.

According to documents viewed by 9To5Google, 'Whitechapel' is used in connection with the codename 'Slider'.

'Slider' is a shared platform for the first Whitechapel systems on a chip (SoC).

Internally, Google refers to this chip as "GS101," with "GS" potentially being short for "Google Silicon," the report said on Friday.

'Whitechapel' is an effort on Google's part to create their own systems on a chip (SoCs) to be used in Pixel phones and Chromebooks alike, similar in to how Apple uses their own chips in the iPhone and Mac.

Google was reported to be co-developing 'Whitechapel' with Samsung, whose Exynos chips rival Snapdragon processors in the Android space.

Currently, smartphone brands, including, Samsung, Huawei, and Apple are designing their own platforms.