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Xiaomi Acquires Duokan, Likely for Release of New Smart TV

Gaining praise from some and raising eyebrows from others, the company behind China’s “iPhone” is now moving to expand its product offerings, as today Xiaomi announces its full acquisition of app-maker Duokan.

Likely in line with Xiaomi’s plans to release a smart TV scheduled tomorrow, the smartphone Internet company is–perhaps unsurprising given the nature of Xiaomi’s CEO Lei Jun—is moving to other technologies for growth. Lei Jun himself is also invested in Jingshan, Vancl, and Duowan. In the report, he says he does not pay attention to whether Xiaomi becomes a “home product company or simply a product company.” In other words, he seems to be flexible about the company’s branding.

Xiaomi has already sold 5 million so far, and they are expected to sell 7 million units by the end of the year. Much in the same vein–though perhaps not as caustic as Qihoo 360—they are now attempting to try new avenues.

The smart TV venture will be kept as a separate business unit for the company, according to Lei Jun. Presumably Duokan will be involved in the project, possibly to integrate their “Duokan TV” app, as suggested by TechinAsia.

Source: Tencent Tech

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