According to reports, Xiaomi will announce its new SoC within a month.

Chinese smartphone manufacturer Xiaomi is looking to have more control over its own hardware. According to a report in the Wall Street Journal, the company is looking to move away from Qualcomm as its primary chip provider and start developing smartphone processors for its own hardware. The report cites sources familiar with the matter who says Xiaomi is planning to release its new processor, allegedly codenamed "Pinecone", within a month.

In developing its own chips, Xiaomi hopes to join the ranks of Samsung, Apple, and fellow smartphone compatriots at Huawei. Those companies successfully use the autonomy of developing its own chipsets to better design hardware and software experiences, while also further locking down its own supply chain for key hardware components.

According to Ars Technica, Xiaomi has acquired mobile processor technology from Leadcore Techology Ltd., a subsidiary of Chinese state-backed Datang Telecom. The deal was made via Beijing Pinecone Electronics, a Xiaomi-linked private entity back in 2014.

This is likely the right move for Xiaomi, as the company is still trying to make noise in the North American markets — but to be the best, you've got to have the best. Going head-to-head against the smartphone juggernauts at Apple, Samsung and Huawei will be no small task.

Xiaomi isn't planning to attend Mobile World Congress at the end of the month, so we'll have to wait and see for an official announcement from the company for more details on its future plans.