Xiaomi acquires small stake in TCL, the world’s third-largest LCD TV maker
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According to its Q3 2018 financial report(PDF direct link), Xiaomi's IoT and lifestyle products segment was the fastest-growing one during the given period. The Chinese company has managed to sell over 5 million smart TVs in the first nine months of last year, so its recent agreement with TCL does not come as a surprise.
According to a recent statement that Chinese home appliance maker TCL issued to the Shenzhen Stock Exchange, Xiaomi has acquired 65.2 million shares, or 0.48 percent, of the veteran LCD TV maker. The direct consequence of this agreement was the 4 percent jump in the morning trading today, which pushed TCL's market cap to US$36 billion.
This financial agreement is not the first time Xiaomi and TCL got together as the companies already inked a strategic partnership at the end of last December. This partnership is mainly about combining the R&D efforts of the two companies in the hardware department and aims to make it easier for TCL devices to become a part of Xiaomi's impressive ecosystem which is already populated by almost 100 brands — in addition to Xiaomi's own devices, of course.
In the third quarter of last year, Xiaomi managed to ship almost 7 million wearables, while Apple and Fitbit grabbed the second and third positions in the market, with 4.2 million and 3.5 million units shipped. Although Xiaomi is widely known for its affordable smartphones, this Chinese underdog seems to have quite a few aces up its sleeve, so what would you like to see next from Xiaomi? An affordable electric car, maybe? Let us know in the comments below.
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