Baidu invests US$158m in Skyworth’s smart TV unit

Baidu, operator of China’s largest online search service, is investing more than 1 billion yuan (US$158 million) in the smart television unit of Chinese consumer electronic major Skyworth Digital Holdings, escalating competition in the growing market for smart home devices in the country.
Nasdaq-listed Baidu, through subsidiary Dagze Bairuixiang Venture Investment Management Co, has agreed to invest 1.01 billion yuan and obtain an 11 per cent stake in smart TV firm Shenzhen Coocaa Network…

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