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Lenovo’s Third Quarter FY 2016/17 Results Led by Growth In PC Business

21 Feb Lenovo-624x468

Lenovo Group has announced results for its third fiscal quarter ended December 31, 2016. Quarterly revenue was US$12.2 billion, a six percent decrease year-over-year. Third quarter pre-tax income was US$101 million, a 68 percent decline year-over-year. Net income fell 67 percent year-over-year to US$98 million. (more…)

To Tap Into Huge Chinese E-Commerce Market, Foreign Companies Need To Better Understand This Complicated, Segmented Audience

10 Feb alibaba-e1449603425968

Singles Day in China — also known as “11.11” to signify four singles on Nov. 11 – has become an e-commerce bonanza for retailers offering their products to a new internet-savvy generation wishing to purchase gifts for themselves or for a potential mate. (more…)

Confirmed : Apple Will Start Initial Manufacturing Operations in Bengaluru, Could Start with iPhone 8

6 Feb apple-newest-tech-portal-e1439821309618

By Deepanshu Khandelwal, The Tech Portal

What has been widely speculated and hugely anticipated for quite some time now, is finally official. According to a release (via TOI) issued by the Karnataka Government, Apple has officially proposed to the Government, plans to start initial manufacturing operations from Bengaluru. The Govt. of course, has welcomed the proposal. (more…)

China’s Third-Party Payment Industry to Take a Huge Hit as Its RMB 500 Billion Client Reserve Funds Will Be Placed Under Centralized Management This April, Says TrendForce

19 Jan Third-Party-Payment

Starting in April 2017, third-party payment providers in China will have to put their client reserve funds under centralized management of People’s Bank of China (PBoC). This policy is expected to have a heavy impact on major domestic payment providers including Alibaba and Tencent as it prevents them from using the reserve funds to generate interest income or grow their businesses. According to market research firm TrendForce, the total amount of reserve funds that will transfer from third-party payment providers to the control of the Chinese government is estimated around RMB 500 billion. (more…)

China Rapidly Develops Semiconductor Foundries with More than US $10 Bn Expenditure in 2018

18 Jan shutterstock_257108815-624x414

In the recent years, China government proactively raises Chinese domestic semiconductor industry with stunning capital budgets. According to reports of Semiconductor Equipment and Materials International (SEMI), Chinese semiconductor industry in 2018 will spend on foundries more than US$10 billion. (more…)

Baidu Appoints Dr. Qi Lu as Group President and Chief Operating Officer

17 Jan baidu-image-e1450107108325-768x384

Baidu, Inc. (“Baidu” or the “Company”), the leading Chinese language Internet search provider, today announced the appointment of Dr. Qi Lu as Baidu’s Group President and Chief Operating Officer, in charge of products, technology, sales, marketing and operations, effective immediately. (more…)

China’s Tsinghua Unigroup to Continue Expansion, Build Foundries in Chengdu, Nanjing

12 Jan unigroup111301-624x414

China’s government-backed Tsinghua Unigroup will invest US$46 billion in two foundries in Chengdu and Nanjing and continue its expansion and talent poaching in 2017, according to company chairman Zhao Weiguo. (more…)

Why Did the Head of Twitter China Just Resign?

4 Jan twitter-logo_blue-624x327

On December 31, Twitter’s Managing Director for China, Kathy Chen, announced her departure from the company. “Now that Twitter’s APAC [Asia Pacific] team is working directly with Chinese advertisers, this is the right time for me to leave the company,” she wrote in a tweet. (more…)

One More Captain To Jump The Ship; Shang-Yi Chiang, Former TSMC COO, To Join SMIC As Independent Director

26 Dec 1002-tsmc-fab2-624x411

It was rumored on the 20th of December that Rick Tsai, the former CEO of TSMC and Chairman of Chunghwa Telecom, would join China’s Tsinghua Unigroup, which caused a sensation, yet later got denied by Tsai himself. Just a day after that, SMIC, one of China’s leading wafer OEMs, announced that it had recruited Shang-yi Chiang, the former COO of TSMC, to serve as Independent Non-executive Director. This is the second bombshell that has hit the industry this month.

(more…)

Baidu May be Planning an IPO for Its Video-Streaming Site, iQiyi.com

24 Dec baidu-image-e1450107108325-768x384

By Mudit Mohilay, The Tech Portal

Baidu may be planning an initial public offering of its video streaming website, iQiyi.com. The news comes from the Wall Street Journal, that has been citing people close to the deal as the main source of its information. The deal will allow the Chinese giant to raise additional funds, although no word on the schedule of such an IPO could be obtained. (more…)