Xiaomi is going all out to advance its position in the market, whether it is the mobile phone industry or television. Recently, the Chinese smartphone giant pledged to invest $1 billion for internet TV content.
Xiaomi is fast building its individual identity and shedding the tag of being a ‘Xerox’ of Apple. Already manufacturing television sets – Mi TV in 3D and 4K segments and also smart television box – Mi Box in China, Xiaomi wants to jump into the content sector which will allow the company to compete with other biggies in China like Alibaba and Baidu who have their own smart TV networks and also provide content that is diverse in China.
A post on Xiaomi’s official Weibo page said, it had hired a former executive Chen Teng of online firm Sino, to expand its television business and make it more exciting.
“We want to repeat the success of Xiaomi’s hardware integration model in the television industry,” Chen said at a press conference.