Internet group Tencent had paid RMB450m ($66.2m) for a 16.67% stake in Shenzhen Thunderbird Network Technology, the smart TV spinout of China-based television manufacturer TCL, Reuters reported on Wednesday.
TCL sold about 20 million TVs in 2016, about half of which were smart TVs, according to Reuters, which cited figures compiled by research institute IHS Technology.
As part of the deal, Tencent will pre-load entertainment content on to Thunderbird Network’s connected televisions, in a partnership that will enable the former to extend its online video offerings further into over-the-top platform space.
The partnership will follow smart TV collaboration deals formed by Tencent with electronics manufacturers Hisense Electric, in early 2015, and Xiaomi, the latter of which sources content from providers including Tencent for its Mi TV.
The deal represents Tencent’s second investment in a smart TV manufacturer this year, and follows a $44m investment in Coocaa, the smart television subsidiary of electronics producer Skyworth Digital Holdings, early last month.
– Image courtesy of TCL