The spelling of the word "millichip" can be a bit confusing due to the presence of double letters. To break it down using IPA phonetic transcription, we have /ˈmɪlɪtʃɪp/. This means that the first syllable "mil" is pronounced with a short "i" sound followed by a clear "l" sound. The second syllable "li" is pronounced with a short "i" sound and a soft "ch" sound, while the final syllable "p" is pronounced with a quick, strong "p" sound.