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Microsoft is paying $12.3 million for a 1% share of the state-backed Sichuan Changhong Electric Co. in the Peoples Republic of China which makes TVs and appliances:
In addition to the nearly 1 percent stake sale, the two companies will cooperate to develop, make and market TVs, computers and other digital home-entertainment products, said Sichuan Changhong in a stock filing to the Shanghai Stock Exchange.
Sumner Lemon explains the collaboration in more detail at InfoWorld:
Changhong’s announcement follows an agreement between the two companies, signed Friday, to cooperate on a project called Media Galaxy. The goal is to develop, manufacture, and sell televisions, computers and digital entertainment products that connect to the Internet, Changhong said. It did not offer further details.
It’s hard to say what the real import of this is, but $12.3 million is pocket change for Microsoft.
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