Chinese TV company working on Xbox-like console - report

Following the lifting of the Chinese ban on consoles, Chinese media is carrying reports that TCL Corp, a TV manufacturer, is developing its own console. According to English-language source China Daily, the console is coming later this year and is "similar to Microsoft Corp's Xbox", although which Xbox console was not made clear. The news was apparently announced by president Hao Yi, causing a surge in TCL's stock price.

Thanks, Destructoid.