Sou Hu Cai Jing·2025-11-13 08:52Core Viewpoint - Xiaomi and Hisense, long-time competitors in the TV market, have formed a partnership by co-founding a new company called "Zhi Ping Shi Jie" in Hangzhou, marking a significant shift in their relationship after years of rivalry [1][5]. Group 1: Background of Rivalry - The rivalry between Xiaomi and Hisense dates back to 2015, when Xiaomi claimed to be the top smart TV brand in terms of sales, prompting a rebuttal from Hisense [2][3]. - The competition escalated over the years, with both companies engaging in various disputes, including a three-year legal battle where Hisense was ordered to pay Xiaomi 500,000 yuan and issue a public apology [4]. Group 2: Formation of New Company - The new company "Zhi Ping Shi Jie" has significant backing, with Xiaomi holding an 18% stake through "Hanxing Chuangye" and Hisense holding 15% through "Ju Haokan" [1]. - The CEO of TV Taobao, Wang Lei, is identified as the actual controller of the new company, indicating a strategic move to foster collaboration in a challenging market [5]. Group 3: Market Conditions - The TV market has seen a drastic decline, with TV usage rates dropping from 70% in 2016 to below 30% in 2022, and sales volume decreasing by 8.3% year-on-year in the first half of 2025, alongside a 6.1% drop in sales revenue [6][7]. - The current market conditions have prompted major players in the home appliance sector to seek partnerships, as exemplified by recent collaborations between Haier and Xiaomi, and Hisense and Midea [7].