Xiaomi has acquired a 0.48 percent stake in Chinese home appliance maker TCL, according to a statement made by TCL to the Shenzhen Stock Exchange. Xiaomi earlier signed a strategic partnership with TCL, with the aim of integrating smart devices with “core, high-end, and basic” electronic parts. The idea is to make it easier for TCL devices to integrate in Xiaomi’s operating system. The partners may also make co-investments in the hardware field.
The tie-up provides “tremendous help” for Xiaomi in its focus on home appliances, wrote Xiaomi founder and CEO Lei Jun on Weibo.
