Shanghai, China - Microsoft will pay $12.3 million for a small stake in Chinese TV maker Sichuan Changhong Electric Co., Reuters reported.

The Chinese company said Microsoft is to become a long-term strategic investor.

The two companies plan to collaborate on the development of televisions, computers and other digital entertainment products for the home.

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http://biz.yahoo.com/rb/070617/microsoft_changhong.html (Reuters)