Lyra-II, the world's first high-precision baseband chip that supports all BDS-3 civil signals, shown to the public for the first time in Beijing, May 20, 2019. (Photo: chinanews.com)

A new chip for China's BeiDou Navigation Satellite System has been unveiled.

Called "Lyra-II," the high-precision baseband chip, reportedly supporting all civilian signals from the Beidou-3 satellites, is said to be the first of its kind in the world, according to the chip's developer Beijing UniStrong.

The company holds the independent intellectual property rights for the new chip, which it spent more than 50 million yuan over around two years developing.

The chip has been in production since April, with the company saying it will help shape the future of the BeiDou-3 sector.