Xiaomi has grown up into a really big company, but it wants to expand even more. Like Samsung, Apple, Huawei and LG, the company is working on its own chipset to use on entry-level handsets. According to reports, two chipsets are allegedly in the works.

One chipset is aimed at affordable Redmi branded handsets, which will help the company to make it even more affordable. The second chipset is aimed at the company's mid-range models and will have an octa-core processor. At this moment, there is no word on high-end SoCs, meaning the company will continue using Snapdragon chipsets from Qualcomm

Also, there is no word on the actual specifications, but the expected release date is sometime in the first half of 2016.