Microsoft is to buy just under 1 percent of Sichuan Changhong Electric Co. for about 94 million yuan (US$12 million; euro9.2 million), as part of the partnership, the Chinese company said in a statement issued through the Shanghai Stock Exchange.

The companies will launch a venture called "Media Galaxy" to create multimedia entertainment products, Changhong said.

"The `Media Galaxy' project will research, produce and market digital entertainment products to link home computers, television and the Internet," the company said. Pravda.ru