Tencent Invests $44M In Skyworth’s Smart TV Unit Coocaa
Summary
Tencent plans to integrate its video and other content with Coocaas smart TV and entertainment hardware products, according to Chinese media reports.Tencents investment came after Chinese online video platform iQiyi invested RMB150 million (US$22 million) in Coocaa last September, acquiring a 5% stake. Once the latest investment is completed, Coocaas parent Skyworth, Tencent and Iqiyi will respectively hold 71.8%, 7.7%, and 4.6% of Coocaa.Chinese content platforms are increasingly partnering with hardware retailers to offer richer entertainment options on consumers smart home devices. Chinese TV maker Hisense has struck similar partnerships with PPTV, Sohu Inc.s video platform, Youku Tudou and Tencent. Its products include games TVs, high-end smart TVs, a remote control device for Apples smart phone which allows users to control home appliances remotely, a Bluetooth game handle, and Bluetooth earphones. The company also said it is launching a new anti-blue light education TV for children that protect their eyesight.Coocaa is also eyeing the visual reality industry with plans to set up a RMB100 billion (US$14 million) VR investment program.
