BEIJING, July 2 (Reuters) – China’s top smartphone maker
Xiaomi Inc on Thursday reported semi-annual sales that for the
first time were lower than the previous six months, jeopardising
its full-year target and hinting at a slowdown in its mainstay
The firm said it sold 34.7 million handsets in January-June
versus 35.0 million in July-December – the first sequential fall
since the company began disclosing six-month figures in 2013.
For 2015, it aims for minimum sales of 80 million smartphones.
BEIJING, July 2 (Reuters) – Xiaomi Inc on Thursday said it
sold 34.7 million smartphones in the first six months of 2015,
casting doubt on the ability of China’s most valuable tech
startup to achieve its full-year target.
Chief Executive Lei Jun last year spoke of reaching 100
million shipments in 2015 but in recent months has revised the
figure to a more conservative range of 80 million to 100
BEIJING (Reuters) – Beijing-based smartphone maker Xiaomi Inc said on Wednesday it has hired private equity investor Shou Zi Chew as chief financial officer, further bolstering its executive ranks in a period of rapid international expansion.
Chew, the Hong Kong-based partner of DST Investment Management Ltd, first helped the prominent late-stage technology fund invest in Xiaomi in 2011.
BEIJING (Reuters) – China, long accused by the United States of rampant cyber aggression, may be synonymous with hacking exploits these days, but that doesn’t mean every Chinese hacker is out to pilfer and destroy.
As Chinese companies grapple with a sharp increase in the number of cyber attacks, many hackers are finding it increasingly lucrative to go above board and join the country’s nascent cyber security industry.
BEIJING, June 25 (Reuters) – Hillhouse Capital Group, the
hedge fund headed by Chinese billionaire Zhang Lei, is in talks
with existing Xiaoju Kuaizhi investors to increase its stake in
the Chinese ride-sharing firm, according to a person familiar
with the matter.
Such a deal would see Hillhouse further add to its bets on
the ride-sharing market. The hedge fund has agreed in recent
days to lead a $1 billion debt-financing deal with global leader
Uber, separate sources have said.
BEIJING, May 19 (Reuters) – China has unveiled a vision for
the next stage of its economic ascent, moving from plain
manufacturing to a world of prosperity from space, e-commerce,
green energy and bioengineering, among others.
Faced by economic growth at its lowest level in decades and
rising wages and resource costs that are eroding its appeal as a
low-cost factory for the world, China’s cabinet on Tuesday
published its sweeping “Made in China 2025″ strategy.
BEIJING, May 19 (Reuters) – Hewlett-Packard Co has
agreed to sell a controlling 51 percent stake in its China-based
data-networking business, estimated to be worth more than $2
billion, to Tsinghua Unigroup, a spokesperson for the Chinese
private equity fund’s parent company said on Tuesday.
Li Zhongxiang, a spokesman for state-backed Tsinghua
Holdings, which controls Tsinghua Unigroup, did not disclose the
value of the deal but said he expected it to be clinched soon. A
person familiar with the matter said an announcement could be
made as soon as Thursday.
BEIJING, May 6 (Reuters) – Zhang Long made his fortune
selling Pu’er fermented tea and handcrafted furniture from the
mountains of his native Yunnan Province in southwest China.
Last November, the 49-year old entrepreneur, who has no
technology background, strode into a Beijing ballroom to pitch
his latest made-in-China product: SPGnux, a Linux-based
operating system he says could replace Microsoft Corp’s
BEIJING, April 30 (Reuters) – The bidding for a controlling
stake in Hewlett-Packard Co’s data-networking business
in China, worth more than $2 billion, has thrown up a rare
tussle between two Chinese state-backed firms who are wrangling
over which has Beijing’s backing.
The spat involving China Huaxin Post and Telecommunication
Economy Development Center and Tsinghua Unigroup could prolong
the sale negotiations, and highlights the complexity of
cross-border investment policies that China has sought to
BEIJING (Reuters) – China’s Tencent Holdings Ltd launched on Tuesday an operating system for internet-connected devices such as TVs and watches that is open to all developers, taking on domestic rivals Alibaba Group Holding Ltd and Xiaomi Inc in the smart hardware space.
Tencent Operating System (OS) and TOS+ allow manufacturers and developers to freely use the platform if they agree to share revenue. This model mirrors Google Inc’s Android mobile OS, and could help Tencent replicate the U.S. firm’s conquest of the majority of the world’s smartphones.