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Xiaomi Invested RMB 1.8 Bln in its Content Business Since November 2014

DoNews, 6/10/15

Lei Jun, Chairman and CEO of Xiaomi Technology, revealed in a recent press conference that the Chinese Android device maker has invested RMB 1.8 bln in the content business industry chain since November 2014. The company is currently working with over 100 companies including Chinese internet firm Baidu's (Nasdaq: BIDU) online video site iQiyi, online video platforms Youku.com and Tudou.com operated by Youku Tudou (NYSE: YOKU), and Zhejiang-based film and TV production and distribution company Huace Film & TV (300133.SZ).

Lei regards smartphones, TVs and routers as Xiaomi's three core businesses. Regarding the smart TV business, Lei stated that users mostly consume content, without which, operating Xiaomi's smart TV and smartphone businesses would not be feasible.

Lei also revealed that Xiaomi will launch other services such as video news and live broadcast of sports events and concerts.

Currently Xiaomi's content chain contains 7,728 movies, 2,805 TV shows, 2,085 variety shows, 3,394 animated series and 2,039 documentaries. The total amount of authorized video content uploaded to the broadcast platform has reached 18,051 for television and 33,213 for Xiaomi smart phones.

Editor's Note: For more background on this topic, please see "Update: Xiaomi Confirms Investment in Youku Tudou" MD 11/12/14 and "Update: Xiaomi to Invest RMB 1.8 Bln in iQiyi" MD 11/19/14 issue.

Keywords: Lei Jun film content smartphone television online video Xiaomi smart TV TV content production

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