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| Wednesday, August 20, 2008 21:48:22 |
Sohu CEO: Google has no chance in China
Sohu CEO Zhang Chaoyang heralded the recent rise in his company's stock following the release of Sohu's fourth quarter financial report, saying that Wall Street had recognized the development and brand strategy of his company at the same time as competitors Sina and Baidu were seeing their stocks fall. Citibank analysts put out a buy recommendation on Tuesday, while recommending sell for Sina and Baidu. Sohu's share price has climbed to US$22.49, higher than its largest competitor Sina.According to a report in The Beijing News, Zhang ascribed the performance to its wireless services, declining costs, and the stable growth of online advertising. He said that Sohu's search service, Sogou, had begun to put real pressure on sector leader Baidu. Speaking about international search leader Google, Zhang said that the "potential for its success is zero," because "Google China has zero management experience, and they have no idea how to conduct searching in China."Link: http://economy.thebeijingnews.com/0392/2006/0210/011@159580.htm
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