Xiaomi Buys Nearly 10% of Kingsoft Cloud Group

It's clear that Chinese startup Xiaomi is not content to rest on its laurels making handsets. Its recently-announced set-top box may be in some regulatory trouble, but apparently the company is also thinking about actual televisions and, according to an announcement from Kingsoft last night, it has just purchased 9.87 percent of Kingsoft Cloud Group, a subsidiary of Kingsoft that itself has a number of cloud-tech subsidiary companies (there's a useful chart of their relationships here).

The total cost of the shares came to more than $1.8 million. It's not clear yet exactly what Xiaomi plans to do with this new investment, but the cloud technology Kingsoft Cloud Group works on could certainly be useful both for the company's MIUI mobile OS and for its new television plans, if those are fully realized someday. It's also worth mentioning that Xiaomi CEO Lei Jun is quite familiar with Kingsoft, having worked there years ago when the company was just a few people and a dream. (See this interview with Lei for more details on his time at Kingsoft and his other experience before forming Xiaomi).

[Via Sina Tech]


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