Qihoo 360 to Lead Mobile Market
Qihoo 360 Technology Co (NYSE: QIHU), a leading Chinese computer security software developer, is poised to become a mobile market leader in China, seizing wallet share via its mobile apps store which will emerge as a leading mobile gaming platform, Citi says in its latest The Point for Asia Pacific report. Over the longer term, Qihoo 360 should play an additional role in mobile search and as an e-commerce aggregator, according to the report.
NetEase Introduces In-App Store
NetEase Inc (Nasdaq: NTES), the operator of Chinese web portal 163.com, launched a store at its NetEase News app, where users can buy real and virtual goods with the points they have earned from using the app. Real goods include cellphones and celebrity-signed T-shirts. Virtual goods include themes, fonts, digital movie tickets and online games.
Giant Interactive Pairs Up with Korean Game Developer
Giant Interactive Group Inc (NYSE: GA), a Chinese game developer and operator, said it had formed a strategic partnership with South Korean game developer Ntreev Soft. Project Panda, their first jointly developed game, is expected to hit the Chinese market in August and overseas later. Project Panda will be available with both the iOS and Android systems.
China Unicom Looks to Mobile Gaming
China Unicom Ltd (NYSE: CHU, HKG: 0762, SHA: 600050) had attracted more than 5 million fee-paying users of its mobile games between January and May 2013, the company said at the Mobile Entertainment Summit 2013. The company said it recorded 20 million downloads from its app store on average a month during the period, with 30% being games. The company also said as China's mobile gaming market is taking off wireless carriers are expected to take a one-third share of the market's revenue in 2013. China Unicom's app store currently serves 30 million users.
Beingmate to Cut Factory Price of Baby Formula
Zhejiang Beingmate Scientific Industrial Trade Co (SHE: 002570), an infant formula maker, said it would cut ex-factory prices to comply with government measures aimed at regulating the milk powder industry. It did not elaborate on the issue and said details were yet to be announced. The National Development and Reform Commission had said that foreign baby formula brands including Mead Johnson (NYSE: MJN), Abbot (NYSE: ABT), Wyeth, Dumex, Bitostime and Frisomil were being investigated for price fixing in the Chinese market. The investigation may be extended to Chinese brands.
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