Alibaba unveils Smart TV system

E-commerce giant Alibaba Group unveiled a smart TV operating system and is working on a device to run it, Bloomberg reported. Alibaba’s system will run a set-top box developed in collaboration with Wasu Media (000156.SHE), Alibaba vice president Yu Ce said at a press conference. Other manufacturers will also incorporate the system, which will include online shopping, and integrate its payment system Alipay in their TVs, Yu said. The set-top box will be built by a third-party manufacturer and is planned for release around September, said Wasu President Li Yiqing.