Home / news / Xiaomi formally invests in TCL above 65 million shares
Xiaomi formally invests in TCL above 65 million shares
Xiaomi formally invests in TCL above 65 million shares

Xiaomi formally invests in TCL above 65 million shares

Xiaomi formally invests in TCL above 65 million shares

Announced Presently, TCL Group issued a notice announcing that Xiaomi Group has officially invested in TCL Group. According to the announcement, on January 4, 2019, Xiaomi Group purchased 65,168,803 shares through the Shenzhen Stock Exchange’s secondary market, accounting for 0.48% of the company’s total share capital. TCL said that the acquisition will help deepen the cooperation between Xiaomi and TCL and build a closer strategic partnership.

Xiaomi formally invests in TCL above 65 million shares

Previously, on December 29, 2018, TCL Group signed a strategic cooperation agreement with Xiaomi Group. The 2 parties will carry out joint research and development on the integration of high-end basic areas of intelligent hardware and electronic information core, and innovate the application of new smartphone technology in the next generation of intelligent hardware. In 2018, the home appliance business became a new growth point for Xiaomi Group. Xiaomi has not only became the No 1 Smart TV brand in China, it also entered other businesses this sort of as air conditioners and washing machines.

Whenever the first organizational restructuring of Xiaomi’s listing, the TV department was established to be responsible for the TV business, whereas incubating new businesses these types of as air conditioners. At the exact same time, as a giant in the home appliance industry, TCL will adjust its strategy to focus on semiconductor screen business, materials business, and emerging business. So, the two parties have appeared good-looking complementarity in their business. Xiaomi has strong product definition, R&D and design capabilities, as well as advanced Internet thinking. TCL has a fairly rich provide chain and production experience and is highly competitive in the semiconductor display business. According to public data TCL’s Huaxing Optoelectronics TV display ranked fifth in the world in the first three quarters of 2018.

Market research firm IDC unveiled the report of India’s smart home market, appearance that in the third quarter, Xiaomi TV has surpassed Samsung to become India’s biggest smart TV brand. This strategic cooperation with TCL will help Xiaomi become larger and stronger in the field of household appliances. Chen Hang, the chief analyst of Southwest Securities, said that the marriage between the 2 parties will make Xiaomi TV, air conditioners, washing machines, and other household appliances continue to gain supply advantages, that is, have a additional stable provide and they will Additionally have diversified device advantages since of the provide chain.

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