Gerry's Feed
Dec 17, 2014

Uber faces tough rivals, regulatory glare in China

BEIJING/SHANGHAI (Reuters) – Deep-pocketed Chinese rivals and tough regulators stand in the way of U.S. car-hailing service Uber’s plans to conquer one of the world’s biggest transportation markets, even after it signed a tieup with domestic internet giant Baidu Inc (BIDU.O: Quote, Profile, Research, Stock Buzz).

The terms of a deal that sees Baidu buy a stake in the fast-growing taxi app operator were not disclosed.

Dec 16, 2014

China’s Xiaomi booked $56 mln profit in 2013 -filing

BEIJING, Dec 15 (Reuters) – Privately owned Xiaomi booked
347.5 million yuan ($56 million) in net profit last year,
according to a regulatory filing that showed the world’s No.3
smartphone maker grappling razor-thin margins.

The figure casts new light on the growth of a company that
reached third place in just four years thanks to handsets lauded
for balancing quality and affordability. Only this month did
momentum finally stall when a patent challenge in India halted
sales.

Dec 15, 2014

Xiaomi made $56 million profit in 2013 – filing

BEIJING (Reuters) – China’s Xiaomi Technology Ltd Co [XTC.UL] made a profit of 347.48 million yuan (£35.7 million) on 26.58 billion yuan (£2.73 billion) in revenue in 2013, according to new Chinese securities filings, showing the razor-thin margins at one of the handset industry’s fastest growing companies.

The filings also revealed chairman and chief executive Lei Jun claims 77.8 percent ownership of the company he co-founded in 2010, while unnamed shareholders split the remaining shares.

Dec 15, 2014

Xiaomi made $56 mln profit in 2013: filing

BEIJING (Reuters) – China’s Xiaomi Technology Ltd Co made a profit of 347.48 million yuan ($56.15 million) on 26.58 billion yuan ($4.30 billion) in revenue in 2013, according to new Chinese securities filings, showing the razor-thin margins at one of the handset industry’s fastest growing companies.

The filings also revealed chairman and chief executive Lei Jun claims 77.8 percent ownership of the company he co-founded in 2010, while unnamed shareholders split the remaining shares.

Dec 14, 2014

Xiaomi’s India smartphone ban exposes wider patent risk

MUMBAI/BEIJING, Dec 14 (Reuters) – The court order that
banned Chinese mobile maker Xiaomi from selling its phones in
India has halted its breakneck expansion into the world’s
fastest growing major smartphone market and could be just the
start of a string of patent challenges.

Xiaomi Technology only started selling in India in
July and quickly became the country’s fastest growing smartphone
brand; with minimal marketing, it is already outselling even
low-cost smartphones running Google’s Android One.

Dec 8, 2014

Chinese Internet regulator welcomed at Facebook campus

BEIJING (Reuters) – Lu Wei, China’s top Internet regulator, may not welcome Facebook to his house, but he’s certainly welcome at Facebook.

Lu, the minister of China’s Cyberspace Administration, recently toured the campuses of U.S. tech giants Facebook Inc, Apple Inc and Amazon Inc, according to a report and pictures posted on a Chinese government website on Monday.

Nov 21, 2014

Los Angeles mayor presses China to allow more Hollywood films

BEIJING (Reuters) – A flurry of private Chinese investment into Hollywood should prompt Beijing to loosen its restrictions on U.S. film imports, the mayor of Los Angeles said in China on Friday as he urged officials to raise the country’s annual cap on foreign films.

Hollywood producers, eager to build ties to the world’s second-largest film market, have embraced an influx of Chinese capital in recent years, leading to a series of high-profile partnerships. Chinese authorities have gradually raised the annual quota of foreign films to 34 but state censors still keep a firm grip over what may be shown.

Nov 18, 2014

China blocks websites ahead of high-profile Internet forum-group

BEIJING, Nov 18 (Reuters) – The Chinese government has
blocked access to a swathe of websites in what an internet
monitoring group said on Tuesday was a blunt censorship campaign
days before the country plays host to a major internet industry
conference.

Greatfire.org, a group that conducts research on Chinese
internet censorship, said the Chinese government appears to have
targeted a network operated by Edgecast, a subsidiary of Verizon
Communications Inc that delivers content and services for
web companies, rather than specific web addresses.

Nov 16, 2014

Chinese policymakers eye e-commerce as linchpin of growth

BEIJING (Reuters) – China should support its e-commerce industry with preferential policies, given the role it plays in stimulating domestic consumption and economic growth, China’s State Council said in a paper released on Sunday.

The State Council’s explicit support for the e-commerce industry and the development of related technologies, such as online payment processing and e-commerce logistics, comes as the country’s leadership seeks to stoke domestic consumption amid slowing growth rates.

Nov 14, 2014

Blackberry has no immediate plans to crack ‘sensitive’ China market

BEIJING (Reuters) – Blackberry Ltd Chief Executive John Chen sees Asia as key to reviving the loss-making smartphone maker’s fortunes but expanding in the region’s biggest market China, where security data concerns are rife, is currently not a priority.

Chen, who has been managing the company’s turnaround for the past year, told Reuters that concerns over information security and the political backlash that security breaches could create dimmed the allure of the world’s biggest smartphone market for Blackberry for the time being.