Gerry's Feed
Oct 20, 2014

China Mobile quarterly revenue falls for first time since at least 2009

BEIJING (Reuters) – Quarterly revenue at China Mobile Ltd (0941.HK: Quote, Profile, Research, Stock Buzz) fell year-over-year for the first time since at least 2009 as China’s largest telecom provider continued to stumble in the face of rising competition from popular Internet-based messaging apps.

China Mobile reported on Monday operating revenue of 481.24 billion yuan ($78.59 billion) for the first nine months of the year. The cumulative figure implied revenue of 156.6 billion yuan during the June-September quarter – or down 2 percent from a year prior – marking the first time in years that quarterly revenue has declined, according to a Reuters calculation.

Oct 16, 2014

Alibaba affiliate Alipay rebranded Ant in new financial services push

BEIJING (Reuters) – Chinese e-commerce firm Alibaba Group Holding Ltd said on Thursday it has changed the name of its Alipay financial services affiliate to Ant Financial Services Group as it steps up its push into the financial services industry.

Alibaba has been aggressively offering new financial services around Alipay, including a money market fund for consumers, a mobile payment app and even a new private bank that was approved by the Chinese government in September.

Oct 13, 2014

Intel gains a new ally in China’s chip wars: Beijing

BEIJING/SAN FRANCISCO (Reuters) – Intel’s investment of up to $1.5 billion in two fast-growing Chinese mobile chipmakers has effectively aligned the U.S. giant with a third party – a Beijing government intent on producing a viable domestic challenger to the likes of Qualcomm and Samsung.

For more than a decade, China has targeted semiconductor design and manufacture as a major focus of its industrial policy. Activity has picked up markedly over the past year with a spate of cross-border mergers and cooperation deals.

Sep 29, 2014

Lenovo says $2.1 billion IBM x86 server deal to close on Wednesday

BEIJING (Reuters) – Lenovo Group Ltd (0992.HK: Quote, Profile, Research, Stock Buzz) will close its acquisition of International Business Machines Corp’s (IBM) (IBM.N: Quote, Profile, Research, Stock Buzz) x86 server division on Oct 1 for $2.1 billion, giving the Chinese tech firm the firepower to win business clients from U.S. rivals.

The closing purchase price is lower than the $2.3 billion announced in January because of a change in the valuation of inventory and deferred revenue liability, Lenovo said. Roughly $1.8 billion will be paid in cash and the remainder in stock.

Sep 29, 2014

Lenovo says $2.1 bln IBM x86 server deal to close Wednesday

BEIJING, Sept 29 (Reuters) – Lenovo Group Ltd will
close its acquisition of International Business Machines Corp’s
(IBM) x86 server division on Oct 1 for $2.1 billion,
giving the Chinese tech firm the firepower to win business
clients from U.S. rivals.

The closing purchase price is lower than the $2.3 billion
announced in January because of a change in the valuation of
inventory and deferred revenue liability, Lenovo said. Roughly
$1.8 billion will be paid in cash and the remainder in stock.

Sep 26, 2014

Intel to invest up to $1.5 bln in two Chinese mobile chipmakers

BEIJING/SAN FRANCISCO, Sept 26 (Reuters) – Intel Corp
said it will pay as much as $1.5 billion for a 20
percent stake in two mobile chipmakers with ties to the Chinese
government, in the hopes of catching up in a smartphone chip
industry dominated by rival Qualcomm Inc.

Intel will acquire the stake in Spreadtrum Communications
and RDA Microelectronics through a deal with Tsinghua Unigroup,
a government-affiliated private equity firm which owns the two
mobile chipmakers.

Sep 26, 2014

Intel investing in China mobile chipmakers: sources

BEIJING/SAN FRANCISCO (Reuters) – Intel Corp is close to announcing an investment in Chinese-government affiliated mobile chipmakers Spreadtrum Communications and RDA Microelectronics, its latest move to catch up in a smartphone chip industry led by Qualcomm Inc, according to two sources with knowledge of the plan.

It was unclear how much Intel is paying or what portion of the companies the U.S. chipmaker is buying. The acquisition could be made through Tsinghua Unigroup, a government-affiliated private equity firm controlled by Tsinghua University in Beijing, one of the sources said. Tsinghua Unigroup owns Spreadtrum and RDA.

Sep 25, 2014

Intel investing in China mobile chipmakers

BEIJING/SAN FRANCISCO (Reuters) – Intel Corp is close to announcing an investment in Chinese-government affiliated mobile chipmakers Spreadtrum Communications and RDA Microelectronics, its latest move to catch up in a smartphone chip industry led by Qualcomm Inc, according to two sources with knowledge of the plan.

It was unclear how much Intel is paying or what portion of the companies the U.S. chipmaker is buying. The acquisition could be made through Tsinghua Unigroup, a government-affiliated private equity firm controlled by Tsinghua University in Beijing, one of the sources said. Tsinghua Unigroup owns Spreadtrum and RDA.

Sep 23, 2014

Alibaba’s Jack Ma rises to top of China rich list as tech tycoons gain

BEIJING, Sept 23 (Reuters) – Jack Ma, executive chairman of
Alibaba Group Holding Ltd, has become China’s richest
man with a fortune estimated at $25 billion, underscoring the
ascension of tech tycoons over real estate peers in the world’s
second biggest economy.

Ma knocked Wang Jianlin, head of the Wanda property group,
into second place with $24.2 billion, according to this year’s
list of China’s super-rich published by Hurun Reports Inc.

Sep 18, 2014

Apple’s iPhone 6 still one license away from elusive China launch

BEIJING (Reuters) – Apple Inc (AAPL.O: Quote, Profile, Research, Stock Buzz) is still awaiting a critical license from Chinese regulators before it can sell its new iPhone 6 in one of the company’s most important markets.

The official Xinhua news agency said on Thursday that Apple’s new iPhone had been given regulatory approval for use on domestic frequencies, but the phone cannot be sold in China until a key network license is granted. The Xinhua report did not indicate when this is likely to happen.