REPORT: Facebook Discussed Investment in Chinese Smartphone Maker Xiaomi
When Facebook co-founder and CEO Mark Zuckerberg visited Beijing last October, part of his trip involved discussions with Xiaomi CEO Lei Jun about an investment in the Chinese smartphone maker by the social network, Reuters reported.
When Facebook co-founder and CEO Mark Zuckerberg visited Beijing last October, part of his trip involved discussions with Xiaomi CEO Lei Jun about an investment in the Chinese smartphone maker by the social network, Reuters reported.
The talks occurred during a private dinner, and no transaction ever materialized, according to Reuters.
Facebook has been blocked in China since 2009.
Sources told Reuters Lei was concerned about the political ramifications of Facebook’s potential ownership of a stake in Xiaomi, as well as whether an agreement with the social network would harm its already existing relationship with Google, as its handsets use Google’s Android operating system.
One source told Reuters:
Facebook wants to get into China, and Xiaomi is keen to expand outside, so they both recognize the importance of working together.
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