July 29 – There may be a series of governmental projects to stimulate information consumption, either by individuals or small and midsized businesses in China after the Ministry of Industry and Information Technology said last week it was working on boosting information consumption as part of an effort to increase domestic demand, Credit Suisse said in its Asian Daily report. Cloud computing, mobile Internet and information security technologies will likely see strong incremental demand, while software companies with a strong government relationship, solid retail client base and sufficient Internet experience will benefit the most, according to the report. The report also predicted a merger of the software, Internet and media sectors by the end of 2020. China's information consumption grew 19.8% year on year to 1.38 trillion yuan in the first 5 months of 2013.

July 26 – Baidu (Nasdaq: BIDU) said revenue from its mobile services has for the first time represented over 10% of total revenue in Q2 2013 as the company invested heavily boosting user experience in mobile services. Earlier this month Baidu paid $1.1 billion for a 57.41% stake in 91 Wireless, a leading Chinese mobile platform connected to 93,000 app developers. The deal is expected to give Baidu access to 91 Wireless's massive app store as a supplement to its desktop and wireless search business and make up for its disadvantages in the mobile Internet market where Qihoo 360 Technology Co (NYSE: QIHU) is the leader. Baidu posted 7.56 billion yuan in revenues and 3.48 billion yuan in net profits for Q2 2013, up 38.6% and 8.4% respectively from a year earlier.

July 24 – Apple (Nasdaq: AAPL) said its revenue from China, including Taiwan and Hong Kong, fell 14% year on year and 43% quarter on quarter to $4.64 billion in its latest financial quarter, without giving reasons. The tech giant's revenue from China hit a record $8.2 billion in the previous quarter.

July 24 – China Mobile (NYSE: CHL, HKG: 0941) said it added a net 5 million customers in June, up 8% from May; it attracted 8.5 million 3G users in June, down 9.5% from May. China Unicom (NYSE: CHU, HKG: 0762, SHA: 600050) said it added a net 3.8 million customers in June, up 1.9% from May; it attracted 4.1 million 3G users in June, up 3.2% from May. China Telecom (NYSE: CHA, HKG: 0728) said it added a net 2.3 million customers in June, up 10.2% from May; it attracted 3.1 million 3G users in June, down 0.3% from May.

July 23 – Tencent (HKG: 0700) is behind Xiaomi's latest round of fundraising, DoNews reported, citing a source from an investment bank. Xiaomi, a Chinese smartphone maker, is reportedly to land as much as $2 billion soon from a Tencent-backed Russian venture capital contributor Digital Sky Technologies. Xiaomi is currently evaluated to be worth $9 billion. The details about the latest fundraising are expected to be announced in mid August.

July 23 – China's revenue from the telecom industry rose 12% year on year to 647.25 billion in 1H 2013, according to the Ministry of Industry and Information Technology. The number of mobile service users totaled 1.17 billion, including 318.87 million 3G service users, an increase of 63.7 million and 86.07 million respectively from the end of 2012.

July 8 – China Mobile will introduce its first namesake smartphone. The China Mobile M601 will feature a dual-core 3G phone, targeting low-end consumers with an estimated price below 500 yuan.

July 4 – China Unicom said it had attracted more than 5 million fee-paying users of its mobile games between January and May 2013. It recorded 20 million downloads from its app store on average a month during the period, with 30% being games. China Unicom's app store currently serves 30 million users.

You are currently reading words of total words in this article.
To continue reading this article, you must be a subscriber. Log in now..

Finish this article for free.
@2017 China Economy @ China Perspective.
All Right Reserved.
Server SSL Certificate