(Yicai Global) March 21 -- Chinese mobile phone maker Xiaomi released its first content aggregation short video application Zhenjing Video.
The app is currently available on the Xiaomi App Store and Baidu Mobile Assistant, but not in the Apple Store.
It provides one to 10 minutes of professionally- and user- generated content in film and television, entertainment, comedy and other categories. It does not let users upload videos themselves for now, however.
Chengdu Fenxiang Information Communication operates the app, according to the introduction of its official WeChat account. The company, which formed in 2004 has one Wang Chuan listed as its legal representative, but its actual controlling shareholder is Xiaomi.
Xiaomi has tried long video and live broadcast services before, so setting foot into the short video field is a no-brainer for the firm, since this will conduit more traffic to its other video platforms. Xiaomi has garnered content from Baidu's iQIYI, Alibaba Group Holdings' Youku Tudou and Tencent Video, and promoting long video services with short ones is a common practice for all these platforms, said Xiaomi chairman Lei Jun.
Xiaomi sold 119 million smartphones last year, and their gross profit margin was 6.1 percent in the fourth quarter, down from 7 percent in the same period of the previous year.
The company's game, music, information, video and search internet services rose from 57 percent to 63 percent, by contrast, and Its video and live broadcast services help the firm expand this more lucrative online business.
Editor: Ben Armour