China's leading online video provider Leshi Internet Information and Technology Corp, commonly known as Letv, said on Thursday that rising smartphone star Xiaomi Inc's recently established online video alliance cannot be competitive with Letv's ecosystem.
"Xiaomi does not have self-developed content and the alliance is not truly integrated," Jia Yueting, CEO of Letv, said at a conference with investors on Thursday.
The comment came after Xiaomi announced on Wednesday at a press conference the creation of a partnership with over 100 domestic video sites including Baidu Inc's iQiyi and Youku Tudou.
The union did not include Letv, according to a slide shown at Xiaomi's conference. Xiaomi, which said on Wednesday it has invested $1 billion in online video content to support its TV businesses, is actively furthering its presence in the smart TV sector.
