Xiaomi buys 0.5pc stake in TCL for 167m yuan

Business | 7 Jan 2019 1:34 pm

Xiaomi (1810) bought 0.48 percent stake in Shenzhen-listed electronics company TCL for about 167 million yuan (HK$190.94 million).

Xiaomi's founder and chairman Lei Jun said that entering strategic operation with TCL on the collaborative research and development, as well as the supply chain, would offer huge help for Xiaomi's home appliance business.

TCL's television display China Star Optoelectronics was ranked fifth globally 2018 in terms of the sales.

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