Xiaomi Invests in Gaming and Software Giant Kingsoft
After gaining huge success in India and overseas through its impressive smartphone line-up, the Chinese electronics manufacturer Xiaomi has plans to expand further. Seems like the company is now eyeing the games and software market.
Xiaomi recently acquired 3% of Kingsoft’s share and the deal was finalised at approximately $68 million. The partially acquired company is a Chinese games and software giant, which started by developing PC games and is now a renowned name in security, entertainment and enterprise products. With this buyout, Xiaomi seems to be laying the ground for dedicated a gaming experience and improved services for its loyal customers.
Until now, Xiaomi was inking deals in hardware only – a whopping $203.7 million investment in home appliance maker Midea Group and a strategic funding in wearable start-up Misfit. The Chinese top smartphone manufacturer bought the shares of Kingsoft from the Chinese investment holding Tencent and the deal is likely to finish by January end.
Last week, Xiaomi amazed everyone with the launch of the 5.7-inch Mi Note. The company still has something in its bag and will unveil it on 20th January; it left its fans longing with an image that speaks of a mysterious new gaming hardware.
Recently, the news cropped up that the smartphone giant has plans to invest in Indian tech start-ups, as well as overseas media content. With Xiaomi investing in almost every business segment, there will be soon a day when this Chinese producer will beat the current top-listers and will dominate the tech industry.