China’s tech companies are becoming more visible overseas, with regional and global expansions, IPOs on NASDAQ, and greater media attention overall.
1. Xiaomi sets price for Singapore phone launch on February 21
The 4.7-inch screen Redmi will sell for S$169 (US$133), which is just a few dollars more than the WCDMA model sells for in mainland China.
2. VIPShop pays $112 million for controlling stake in cosmetics e-store
Chinese flash sales site VIPShop (NYSE:VIPS) has paid $112.5 million in cash to acquire a majority stake of cosmetics e-store Lafaso.
3. Here comes the first daily deals site from China to seek a US IPO
While Jumei looks like a risky investment as the first Chinese daily deals site venturing onto Wall Street, investors can take heart from the success of discount-oriented VIPShop (NYSE:VIPS), whose share price has rocketed from $6.50 to $114.56 since it IPO’d in early 2012.
4. Maker of China’s domestic desktop OS goes dark, leaves employees without pay
The maker of China’s state-backed domestic desktop operating system has terminated all of its employees’ contracts, liquidated its assets, and shut its doors
5. China’s smartphone shipments fall for first quarter in over two years: IDC
IDC expects China to remain a strong driver of global smartphone shipments, but IDC Asia senior research manager Melissa Cau states, but India has taken the number three rank globally and will see major growth in the near future, along with other emerging markets.
6. Lenovo’s newest earnings report is the envy of both smartphone and PC makers
Lenovo now holds 18.5 percent of global PC market share, its highest recorded ever.
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