China’s Smartphone maker Xiaomi has announced that it will invest USD 1 billion in television content building. In order to aim at improving the company’s content and become a ‘leading bellwether for the industry”.
The company said it had hired Chen Tong, a former executive at Chinese Internet firm Sina Corp, who will be responsible for the content of investment and content operations. “We want to repeat the success of Xiaomi’s hardware integration model in the television industry,” Chen said.
Xiaomi’s rival Internet companies – Alibaba, Tencent, Baidu etc. have also made recent investments in Internet TV market. The smartphone maker seems to be expanding its reach from mobile screens to TV screens. Even though it claims to spend almost nothing for its marketing activities, it sure is spending a lot on building its products.
Apart from this, according to the latest report by IDC, the China-based company is now the third largest smartphone vendor around the world trailing behind Korean Samsung and USA’s Apple. It is planning to set up a R&D center in Bangalore with a team of designers, product managers and software engineers, to build customizing devices for local consumers.
Also, the company was in Indian news last week. According to F-secure report, Xiaomi Redmi 1S phone was sending data like user’s IMEI, phone number, and phone numbers of contacts added to the phone book to a remote server. Now in order to sort out Security concerns related to user’s data, Chinese smartphone maker, Xiaomi is planning to engage with Indian Authorities.
Image Source: AcmaCategory Business Investments