There was never really much doubt that Chinese PC leader Lenovo (HKEx: 992) would ultimately close its purchase of Motorola Mobility, the former cellphone giant that has rapidly become irrelevant in a sector where change occurs at lightning speed these days. Lenovo has just announced that it closed the purchase of Motorola Mobility from Google (Nasdaq: GOOG), some 9 months after first announcing the deal. Now the real work will begin for Lenovo as it tries to figure out what exactly to do with Motorola, including the small possibility that it could retire the company’s storied name. Read Full Post…
The near-monopoly held by Tencent’s (HKEx: 700) WeChat in China’s mobile messaging space could soon get a fresh shot of competition, with word that e-commerce giant Alibaba (NYSE: BABA) was in talks for an alliance to revive China Mobile’s (HKEx: 941; NYSE: CHL) fast-fading Fetion text messaging service. Such a powerful tie-up could take direct aim at the current stranglehold on the market held by WeChat, which now has more than 400 million active users and has become an indispensable communications tool for many. Read Full Post…
After a year of mostly hype, Shanghai’s new Free Trade Zone (FTZ) has finally begun showing the world some substance in the last 2 months with a recent string of high-profile announcements by major companies that plan to set up in its borders. Microsoft (Nasdaq: MSFT) and Amazon (Nasdaq: AMZN) were among the first to announce plans, and were joined last week by US retail giant Costco (Nasdaq: COST) and top Chinese oil refiner Sinopec (HKEx: 386; Shanghai: 600028; NYSE: SNP). Read Full Post…
I’ve stopped using the term “love affair” to describe the romance between Hollywood and China over the last 2 years, as it no longer seems sufficient to describe the flood of tie-ups that have emerged since China became the world’s second largest box office. The Long March of new deals has now gained 2 more members, with word that US film giant Warner Bros (NYSE: TWX) is in a major new movie financing deal with Shanghai Media Group (SMG), China’s leading regional maker of filmed entertainment. In a separate headline, other reports are saying that real estate giant Wanda Group is also deepening its own involvement in movie industry finance, by filing to make a domestic IPO for its movie theater business. Read Full Post…
Supreme Court rules for Tencent in antitrust lawsuit
Big foreign multinationals may be feeling the heat from a recent string of anti-monopoly investigations, but Chinese Internet firms won’t have to face such worries anytime soon. That’s the latest message coming from Beijing, with word that China’s Supreme People’s Court has ruled in favor of social networking giant Tencent (HKEx: 700) in a long-running lawsuit claiming the company controlled a monopoly in the instant messaging market. I originally sided with Tencent when the case was filed 3 years ago by security software specialist Qihoo 360 (NYSE: QIHU), because I felt the lawsuit looked retaliatory for an unrelated suit between the pair at that time. But much has changed since then, most notably the meteoric rise of Tencent’s wildly popular WeChat mobile instant messaging service that has become an indispensable tool for millions of people in China, myself included. Read Full Post…
A new cloud computing tie-up between US networking equipment giant Cisco (Nasdaq: CSCO) and leading Chinese TV maker TCL (HKEx: 1070; Shenzhen: 000100) caught my attention more due to its broader implications for both companies rather than the modest size of the actual investment. The deal comes as Cisco is facing difficulties in China, the direct result of an ongoing spat between Washington and Beijing over cyber security. At the same time, it also represents the latest in a string of recent signals that TCL is eying some new global alliances, a decade after 2 high-profile tie-ups with other western partners ended in disaster. Read Full Post…
I’m not a close follower of global game console leaders Microsoft (Nasdaq: MSFT) and Sony (Tokyo: 6753), but the latest reports of the latter’s launch plans for its PlayStation in China seem to reflect the recent state of disarray at the ailing Japanese giant. Microsoft was quick to formulate a China plan for its popular Xbox after Beijing recently lifted a decade-old ban on foreign consoles, forming a joint venture and launching the consoles last month. By comparison, only sporadic reports have emerged over that time about Sony’s plans, including the latest confusing reports that indicate the company will try to launch its PlayStation 4 in China by the end of the year. Read Full Post…
A significant move of consolidation occurred in China’s fragmented microchip design sector last week, when global leader Intel (Nasdaq: INTC) purchased a strategic minority stake in a Chinese company formed through the recent combination of 2 midsized players. The step will bring together domestic smartphone chip designers RDA Microelectronics and Spreadtrum, with Intel’s huge financial resources, R&D muscle and global sales network. Read Full Post…
Microsoft (Nasdaq: MSFT) and Intel (Nasdaq: INTC), the sputtering “Wintel” pair that once dominated the high-tech industry, are both in the China headlines today, as each tries to reverse its downward slide in the important market. In the first case, Microsoft’s new CEO Satya Nadella is visiting China in his first overseas trip since assuming his current title, and is quickly finding himself quite busy putting out fires on a number of fronts. In the latter case, Intel is paying a hefty premium for a Chinese cellphone chipmaker as it attempts to find a place in a critical sector that is rapidly overtaking its core business making chips for traditional PCs. Read Full Post…
The following press releases and media reports about Chinese companies were carried on September 24. To view a full article or story, click on the link next to the headline.
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After Delay, Microsoft (Nasdaq: MSFT) Xbox One China Launch Set For Sept 29 (English article)
Jack Ma Becomes China’s Richest Man, Lei Jun Enters Top 10 – Hurun Report (Chinese article)
iPhone 6 Still Being Reviewed, Results Expected Shortly – MIIT Chief (Chinese article)
Shanghai Gov’t Requires Officials To Use Domestic Brand Smartphones (English article)
Shunfeng (HKEx: 1165) 500 Mln Yuan Ningxia Solar Power Station Hits Obstacle (Chinese article)
The following press releases and media reports about Chinese companies were carried on September 20-22. To view a full article or story, click on the link next to the headline.
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Alibaba (NYSE: BABA) Jumps 38 Pct In Debut, Becomes 2nd Largest Internet Firm (Chinese article)
China Fines Drugmaker GSK (London: GSK) Record $489 Mln For Bribery (English article)
Car Makers Ordered To Openly Disclose Maintenance Fees Starting Next Year (Chinese article)
Chinese Auto Rental Company CAR Inc (HKEx: 699) Soars 28 Pct In HK Debut (English article)
Microsoft (Nasdaq: MSFT) Delays Xbox One China Launch To Before Year-End (Chinese article)
