In brief: Xiaomi buys 0.5% stake in Chinese electronics manufacturer TCL

Xiaomi has bought 65.2 million shares or 0.48 percent of Chinese home-appliance maker TCL from the secondary market, said the Shenzhen Stock Exchange in a statement. According to TCL, Xiaomi is willing to conduct a strategic cooperation with it on a capital level. The two companies have agreed to cooperate in developing smart products and electronic devices.

Source: Bloomberg