Controversial manufacturer Xiaomi has revealed plans to invest big on Chinese YouTube alternative known as Youku. If reports are to be believed, Xiaomi is looking to invest as much as $1 billion in the regional video streaming service. Something like this makes sense as Xiaomi is also in the Smart TV business with its range of Mi TVs which have sold quite handsomely in China since they were launched.
Youku was clearly excited about this new partnership – “Youku Tudou’s ability in producing original content will provide strong support to the Xiaomi family of hardware by making the user experience more compelling, and will help to boost average revenue per user.”
Xiaomi, which initially started up making predominantly budget devices has transformed into a major player in the mobile segment. Known for blatantly copying Apple’s product designs for its products, the company is a massive hit in China due to its low cost high value offerings. This new investment in the video streaming site could mean extensive use of Youku services in future devices, including smartphones.
Source: The Wall Street Journal