Alibaba Group Holding Ltd on Tuesday added the smart television sector to its markets-to-conquer list amid speculation that the e-commerce giant plans a $100 billion initial public offering in Hong Kong this autumn.

The Hangzhou-based company said it will launch a gesture-controlled set box in the coming months. The product will bring online payment and video game downloading services to TVs.

Teaming up with online video provider Wasu Digital Television Media Group, the gadget will be Alibaba's first release in the smart TV sector.