Xiaomi is teasing big news today. Here’s what we think it is.

Yesterday, Xiaomi made waves on Sina Weibo when the official account for its Xiaomi TV tweeted this:

It says that a “major event” is coming on November 19 – that’s today – at 2 P.M. Beijing time. Beyond that, the company hasn’t leaked any details, so there’s no way to be sure what could be coming. In the comments, some people are speculating that it’s a larger-screen version of Xiaomi’s smart TV, perhaps 70 or even 100 inches. The Chinese word the announcement uses for “major” also means “big” – as in “big screen” – which some are taking as a subtle hint.

And of course, there are other guesses too. It could be a drop in price or a broader sale, although Techweb says anonymous internal sources at Xiaomi have denied that. Or it could be something else entirely.

Personally, my money’s on some kind of cooperative partnership with video streaming service iQiyi. Rumors have been swirling for weeks now that in addition to its investment in Youku-Tudou, Xiaomi has also plunged a significant sum into iQiyi. The deal hasn’t yet been confirmed officially by either party, but my hunch is that it will be later today. We already know that Xiaomi is interested in beefing up its content offerings, and both Youku and iQiyi are developing exclusive, original content, so it makes sense that Xiaomi might want a hand in both.

Of course, I could also be totally wrong! But keep an eye out for Xiaomi’s announcement at 2 P.M. today. I’ll bet that it has something to do with iQiyi.