Xiaomi Technology Co Ltd said on Wednesday it has made $300 million investment in online video provider iQiyi.
The investment in iQiyi followed a separate stake purchase deal Xiaomi announced last week in China’s largest video streaming site Youku Tudou Inc.
Xiaomi earlier this month pledged to invest a total of $1 billion to expand its Internet TV content, adding to the frenzy in China’s fast-growing online video market.