One of the basic devices in many homes is the TV. We are currently at the stage of transition from "traditional television" to streaming services, such as Netflix. In the future, when artificial intelligence develops, the TV will play a key role, together with the speakers it will become a smart home command center. That is why Xiaomi, as the likely leader of the most extensive portfolio of smart home products in the world, invests in the TCL brand which has knowledge and factories for the production of TV sets.
W I reported in Januarythat Xiaomi Group has decided to invest in the TCL brand, which produces televisions and semiconductors. Xiaomi acquired 65 168 803 TCL shares on the Shenzhen Stock Exchange. In the last semi-annual report for shareholders, the TCL Group revealed that as at 30 June 2019 Xiaomi Group owned 134 949 437 their shares, and this is 1% of the capital of the entire companyi. Both companies are conducting joint research on the development of high-end devices for next-generation smart homes.