Gerry's Feed
Nov 12, 2014

Xiaomi to buy stake in Youku Tudou as part of online video push

BEIJING (Reuters) – Xiaomi Technology Co Ltd [XTC.UL] will acquire a stake in Chinese video streaming firm Youku Tudou Inc (YOKU.N: Quote, Profile, Research, Stock Buzz), cementing ties between China’s leading smartphone maker and one of the most popular content providers in the video-hungry country.

In a joint statement on Wednesday, the companies said the transaction would take place on the open market but did not specify how large the smartphone maker’s stake would be or how much would be invested.

Nov 9, 2014

China president says risks to economy ‘not that scary’

BEIJING (Reuters) – The risks faced by China’s economy are not that scary and the government is confident it can head off the dangers, President Xi Jinping told global business leaders on Sunday to dispel worries about the world’s second-largest economy.

In a speech to chief executives at the Asia Pacific Economic Cooperation (APEC) CEO Summit, Xi said even if China’s economy were to grow 7 percent, that would still rank it at the forefront of the world’s economies.

Nov 6, 2014

Lenovo second quarter revenue decline damps optimism over smartphone drive

BEIJING (Reuters) – Lenovo Group Ltd (0992.HK: Quote, Profile, Research, Stock Buzz) reported quarterly revenue that missed analyst estimates, with a decline in smartphone sales curbing investor optimism about the world’s biggest maker of personal computers (PCs) turning into a force in mobile devices.

Lenovo’s earnings came at a time of unprecedented competition in China’s smartphone market, with rivals including fast-growing Xiaomi Inc, now the world’s No. 3 handset maker. At the same time, the company is pulling ahead in the global PC industry.

Nov 6, 2014

Lenovo Q2 revenue decline damps optimism over smartphone drive

BEIJING, Nov 6 (Reuters) – Lenovo Group Ltd
reported quarterly revenue that missed analyst estimates, with a
decline in smartphone sales curbing investor optimism about the
world’s biggest maker of personal computers (PCs) turning into a
force in mobile devices.

Lenovo’s earnings came at a time of unprecedented
competition in China’s smartphone market, with rivals including
fast-growing Xiaomi Inc, now the world’s No. 3 handset maker. At
the same time, the company is pulling ahead in the global PC
industry.

Oct 30, 2014

China’s Baidu says mobile investment a priority as third quarter revenue falls short

BEIJING (Reuters) – China’s dominant search engine Baidu Inc (BIDU.O: Quote, Profile, Research, Stock Buzz) said it would continue to invest significantly to adapt its business to the mobile era, a transition that has tripped up other Internet peers born in the desktop PC era like Google Inc (GOOGL.O: Quote, Profile, Research, Stock Buzz).

Sometimes known as the “Google of China,” Baidu reported lower-than-expected 52 percent increase in third quarter revenue, and said it expected revenue growth in the fourth quarter to slow down marginally.

Oct 30, 2014

China’s Baidu says mobile investment a priority as Q3 revenue falls short

BEIJING Oct 29 (Reuters) – China’s dominant search engine
Baidu Inc said it would continue to invest
significantly to adapt its business to the mobile era, a
transition that has tripped up other Internet peers born in the
desktop PC era like Google Inc.

Sometimes known as the “Google of China,” Baidu reported
lower-than-expected 52 percent increase in third quarter
revenue, and said it expected revenue growth in the fourth
quarter to slow down marginally.

Oct 28, 2014

China Telecom Jan-Sept net income up 9.7 pct

BEIJING, Oct 28 (Reuters) – China Telecom Corp Ltd’s
net income for the first nine months of this year rose
9.7 percent to 16.17 billion yuan ($2.65 billion) as growth in
its fixed-line Internet subscribers offset its stagnant mobile
and fixed-voice business.

China Telecom has been pressured along with its industry
peers by competition from web-based apps, but the carrier has
managed to keep revenue growing slightly thanks to Chinese
consumers’ appetite for Internet access.

Oct 23, 2014

China Unicom’s profits up 26 pct as 3G subscriptions grow

BEIJING, Oct 23 (Reuters) – China Unicom Hong Kong Ltd
saw net income for the first nine months of 2014
increase 26.1 percent to 10.56 billion yuan ($1.73 billion), as
the telecoms firm continued to increase its high-paying 3G
subscriber base while cutting spending on handset subsidies.

The carrier said sales from smartphone users who pay for 3G
internet access rose 24.3 percent from a year ago, reaching
80.36 billion yuan, and now accounts for two thirds of its
mobile service revenues.

Oct 23, 2014

China’s Xiaomi shifts some smartphone user data out of Beijing on privacy concerns

BEIJING, Oct 23 (Reuters) – Fast-growing Chinese smartphone
maker Xiaomi Inc said on Thursday it is migrating some data on
non-Chinese customers away from its servers in Beijing due to
performance and privacy considerations.

Data belonging to the privately owned company’s non-Chinese
users will be moved in several phases to Amazon Inc
servers in the United States and data centres in Singapore,
Xiaomi vice president Hugo Barra said in a Wednesday blog post
on Google Plus.

Oct 22, 2014

China overseas direct investment seen rising 10 percent a year

BEIJING, Oct 22 (Reuters) – China’s overseas direct
investment is projected to rise at least 10 percent annually for
the next five years, a trend that will soon make the country a
net capital exporter, a senior commerce ministry official said
on Wednesday.

“It’s only a matter of time,” said Zhang Xiangchen, an
assistant minister at the Ministry of Commerce (MOFCOM),
referring to when China’s outbound investment will eclipse
inbound investment.