According to reports in Chinese local media, Hisense Electronics Co., Ltd. and Qingdao Microelectronics Innovation Center Co., Ltd. jointly invested CNY500 million in the establishment of Qingdao Xinxin Microelectronics Technology Co., Ltd.

It is said that the new joint venture is controlled by Hisense and it integrates Hisense's existing chip research and development team, Toshiba's TV chip research and development team previously acquired by Hisense, and teams and businesses of Kiwimage. It is mainly engaged in R&D and promotion of smart TV SoC chip and AI chip.

SoC chip is a core part which determines the product competitiveness of smart TV. Hisense's first-generation chip was launched in 2005 and it is now upgraded to the third generation. Hisense's latest released high-end TV carries this chip.