Xiaomi invests $300 million in online video firm iQiyi

November 19, 2014 07:11 pm | Updated 07:22 pm IST - BEIJING

Xiaomi Technology Co Ltd on Wednesday said it had made $300 million investment in online video provider iQiyi.

The investment in iQiyi followed a separate stake purchase deal Xiaomi announced last week in China's largest video streaming site Youku Tudou Inc.

Xiaomi earlier this month pledged to invest a total of $1 billion to expand its Internet TV content, adding to the frenzy in China's fast-growing online video market.

0 / 0
Sign in to unlock member-only benefits!
  • Access 10 free stories every month
  • Save stories to read later
  • Access to comment on every story
  • Sign-up/manage your newsletter subscriptions with a single click
  • Get notified by email for early access to discounts & offers on our products
Sign in

Comments

Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.