China's Xiaomi says to invest $1 billion in TV content building

Reuters News
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Posted: Nov 04, 2014 1:22 AM

BEIJING (Reuters) - China's Xiaomi Technology Co Ltd, the world's third-largest smartphone manufacturer, will invest $1 billion in television content building, the company said on its official Weibo microblog on Tuesday.

The investment is aimed at enriching the company's content and becoming a 'leading bellwether for the industry', Xiaomi said.

(Reporting by Paul Carsten; Editing by Miral Fahmy)