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Xiaomi to invest $1B in content to make its smart TV more appealing

Xiaomi founder Lei Jun took to his Weibo page today to reveal that the disruptive gadget maker is to invest US$1 billion in building up content for its smart TV users.

Xiaomi unleashed its smart TV OS in early 2013, available initially only via a cheap set-top box. Xiaomi later released a smart TV, dubbed MiTV (pictured above).
Xiaomi took the first step to correct the issue in April this year when it invested US$310 million in Xunlei. The new US$1 billion war chest will be invested “into content integration and cooperation,” explains a Xiaomi spokeswoman. That will likely involve producing its own web shows, movies, and TV series, though that’s not confirmed at this stage. A number of other Chinese video sites have gone down the original content route in the past couple of years and that’s likely to accelerate in 2015 as China’s media regulator clamps down on imported TV shows.