Xiami forms partnership for Internet video
Xiaomi Corp, the Chinese smartphone maker, has formed a partnership with online video platform Youku Tudou Inc to develop Internet video content.
The announcement marks Xiaomi’s first major move in the media sector since hiring Chen Tong, the founder of China’s largest micro-blogging network Sina Weibo by user numbers, earlier this month.
Xiaomi will also take a stake in Youku; details were not disclosed.
The two will jointly develop content and technology including multi-screen online video services, the statement said, and work together in the production and distribution of online videos and movies.