China

Sarah Mishkin

China’s mountainous Guangxi Zhuang Autonomous Region has little of the wealth and fast development of the places in China foreigners have already heard of, but on one key measure of economic development, Guangxi is winning — the growth rate of spending online.

Online shopping throughout China is expanding fast – far faster than the US and Europe – but it’s growing particularly fast in China’s poorer regions like Guangxi, where malls are sparser and the number of people getting online for the first time is greater. Read more

Shares in Hong Kong-traded Chinese electronics giant Haier are soaring, thanks to Alibaba.

FastFT reports that Haier said earlier Monday it had teamed up with Alibaba to develop its logistics business. Read more

Sarah Mishkin

A Beijing customer buys two new iPhone 5s

A customer celebrates buying two new iPhone 5s at the Wangfujing flagship store in Beijing

When Xiaomi, a popular Chinese smartphone maker, overtook Apple’s market share in China the second quarter, the shift prompted a double take by consumers and investors who had never heard of the small but growing brand.

The ascent was short-lived. Apple’s two new iPhones have proved popular in China, enabling the US company to shoulder past Xiaomi in the market share rankings for the three months ended in September.

But Apple and everyone else are still miles behind the clear market leader — Samsung, which now has a fifth of China’s smartphone market, up from 14 per cent in the third quarter of last year. Read more

There is more than one way to lead in the smartphone industry, and China is at work on all of them.

No longer content to copy foreign products. China is developing brands to compete with Apple and Samsung. Xiaomi is known as its answer to Apple, and Huawei and ZTE, the equipment companies, have moved into handsets.

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According to media reports this week, HTC is developing an operating system for Chinese mobile phone users. The company has now issued a statement – but it makes for a pretty unconvincing denial.

HTC says it is in conversations with the Chinese government and telephone operators. But the troubled Taiwanese company did so, i) without denying the OS exists, and ii) in a way that suggests it isn’t in charge of its own destiny. Read more

It’s not just Apple that can generate sales buzz in China for new devices. A couple of weeks on from Amazon’s Kindle launch in China, and the new e-reading devices are becoming hot properties.

The company told beyondbrics in an email that the two Kindle tablets were sold out “almost immediately” and customers are leaving their contact information for the waiting list to be next in line for new stocks.

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Shares in Sina Corp, the Nasdaq-listed Chinese online media group, rose nearly 21 per cent during trading on Monday after the company said it had agreed to sell 18 per cent of Weibo, its Twitter-like micro-blogging service, to Alibaba Group for $586m. The two came close to a similar deal five months ago. Now they have tied the knot.

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Having now read Tim Cook’s letter of apology to Chinese consumers, I think the Apple chief executive has rather deftly achieved his objective – a public act of contrition – without admitting that his company did anything wrong.

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A web games company is about to test the appetite for Chinese floats in the US in one of the first such deals since the accounting scandals that rocked many Chinese companies in 2011.

7Road.com is the games subsidiary of Changyou.com, a Chinese online game developer that in turn is majority-owned by Nasdaq-listed Sohu.com.

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It’s hard to know which was worse: Nokia‘s third quarter overall, or its results in China. Let’s say… China.

Why? Well, the Finnish mobile company has made a big effort in the country, but it’s Q3 results show that it’s far from paying off.

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