International
China's smartphone manufacturer Xiaomi to invest $300 million in video platform iQiyi
After only having been founded in 2010, China's biggest smartphone maker and manufacturer of the smartphone Mi, Xiaomi Corp. (Chinese 小米科技, pinyin Xiǎomĭ Kējì), now announced its second partnership with the video industry. The company paid $300 million for a stake in China's second largest online video platform iQiyi. iQiyi belongs to Baidu Inc., the owner of China's largest internet search engine Baidu. Rank one of China's most popular video platforms is occupied by Youku Tudou