The following press releases and media reports about Chinese companies were carried on April 10. To view a full article or story, click on the link next to the headline.
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- SAIC: Apple (Nasdaq: AAPL) Apology Not Enough (English article)
- Suntech (NYSE: ST) Receives Continued Listing Standards Notice From NYSE (PRNewswire)
- Qihoo 360 (NYSE: QIHU) Search Engine Growth Slows In Monetization Drive (Chinese article)
- Delphi (NYSE: DLPH) Reschedules China Investor Day Due to Bird Flu Reports (Businesswire)
- Qunar Customer Drive Strains Resources, Drives Up Costs (Chinese article)
The unspoken war between online search leader Baidu (Nasdaq: BIDU) and challenger Qihoo 360 (NYSE: QIHU) is taking on a new wrinkle with word that Baidu may be trying to get its advertisers to stop using Qihoo’s popular web browser. I personally find this war of words quite entertaining, though I do also think that Qihoo could better spend its time focusing on doing business rather than accusing others of trying to thwart it through this kind of underhanded tactic. Qihoo, after all, is the master of the underhanded business tactic, which has resulted in numerous lawsuits and complaints being leveled against the company over the years.
The Year of the Snake could well go down as the time when Baidu (Nasdaq: BIDU) finally lost its dominance over China’s lucrative online search market, following the rapid rise of a new challenger from up-and-comer Qihoo 360 (NYSE: QIHU) that may soon tie-up with global search titan Google (Nasdaq: GOOG). Such an alliance would mark the latest assault in Qihoo’s campaign that has seen its so.com site soar past other more established players to become China’s second largest search engine in just half a year.
Excitement over the first serious challenge to Baidu’s (Nasdaq: BIDU) longtime supremacy in online search seems to be getting a bit overblown, with investors jumping on just about any excuse to punish Baidu and reward fast-rising challenger Qihoo 360 (NYSE: QIHU). Some may find it a bit odd that I’m defending Baidu at this juncture, since I’ve been a regular critic of this company that has abused its dominant position in online search for years to squelch potential rivals. But all I’m really saying is that it’s far too early to write a death notice for Baidu, which still has plenty of fight left in it as it tries to defend its dominant position that has seen it control more than 70 percent of China’s lucrative online search market for years.
New music and video moves by Baidu (Nasdaq: BIDU) and Qihoo 360 (NYSE: QIHU) reflect the intensifying competition between China’s dominant search engine and a fast-rising challenger, providing an interesting new form of entertainment for industry watchers. Media are reporting that Baidu has just acquired a video search and recommendation website called Jinwankansha, whose Chinese name means “What Are You Watching Tonight?” If true, the acquisition would be one of a series of recent signals that indicate Baidu is preparing to make a serious play for the online video market, potentially challenging more established players like Youku Tudou (NYSE: YOKU) and Sohu (Nasdaq: SOHU). Meantime, Qihoo 360 has also formally launched its own music service tied to its fast-rising search business, in what looks like a direct shot at rival services operated by Baidu.
Recent gains in online search by Qihoo 360 (NYSE: QIHU) and Sohu’s (Nasdaq: SOHU) Sogou are in the headlines today, highlighting the challenges industry leader Baidu (Nasdaq: BIDU) is facing from a new rival that is quickly gaining momentum and an older rival that also appears to be gaining some traction. At the center of the story is new data for October showing that Qihoo controlled nearly 10 percent of the China search market, just 3 months after the company launched an innovative new search engine. (
