Baidu intends to join hands with Huanwang Technology to enter the smart TV market

According to people familiar with the matter, Baidu is negotiating with Guangzhou Huanwang Technology to develop a set-top box or smart TV chip. Huanwang Technology is a joint venture between Sichuan Changhong and TCL Multimedia Technology. According to market research company DisplaySearch, TCL is currently the third-largest flat-panel TV manufacturer in the world in terms of revenue share.

Baidu is expanding its online video business to increase its market share. According to iResearch, a consulting firm, the revenue of the online video market will reach RMB 16.2 billion (US $ 2.6 billion) next year. Baidu is competing for users with Alibaba, China's largest e-commerce company. Alibaba announced in July that it has designed a smart TV operating system and set-top box.

Baidu declined to comment. He Dan, a spokesman for Huanwang Technology, declined to comment.

Baidu stock has risen 39% this year, while the Nasdaq Composite Index has risen 21%.

Baidu announced last week that it has agreed to acquire a 59% stake in e-commerce website operator Nuomi.com for $ 160 million.

In June of this year, Baidu acquired the online video business PPS at a price of US $ 370 million. It intends to merge PPS with the iQiyi website it acquired last year to build China's largest online video platform.

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