Baidu Looking to Go Internet Mobile
Baidu is not poised to quit the mobile Internet market. Some believe Baidu has more potential in instant messaging than Alibaba and Tencent, as on a cell phone's small screen a simple search box is more attractive. With the success in wireless Internet, Baidu will have even more advantages in the competition with Tencent and Alibaba.
Huawei Equity Sale Stymied Amid Global Financial Pinch
Bids for half of of Huawei's mobile phone business equity, valued at $2 billion, were launched in the first half of this year, but now many earlier bidders are unlikely to be able to put up the cash. So far, private equity funds including AEA Investors, General Atlantic, Providence Equity Partners and Goldman Sachs PE department have dropped out of the bidding, leaving Bain Capital and Silver Lake Partners the only two who have submitted their official bids for Huawei's mobile business.But on October 6, Chen Chongjun, head of Huawei's mobile business sales department, revealed that the further worsened global financial situation had brought on the possibility of a suspension of the deal, and negotiations were at a deadlock.
Asymmetric Regulation Says to China Mobile,"Share."
The Ministry of Industry and Information Technology yesterday declared jointly with State-owned Assets Supervision and Administration Commission that it would greatly promote the sharing of infrastructure and construction for telecom operators. Meaning China Mobile, with the rich network resources it picked up in the recent telecoms reshuffle, must open its facilities to other operators, while its rivals, China Unicom and China Telecom, can choose to use its network or not. The new policy is being labeled asymmetric regulation.
China Mobile Keeps Distance from iPhone
China Mobile wants Apple to make an iPhone specifically for the Chinese market, cancelling the 3G and Wi-Fi functions in this product, because the TD-SCDMA network, built by China Mobile, is not compatible with the other two types of 3G networks, WCDMA and CDMA2000. China Mobile doesn't want to introduce a type of iPhone which is compatible with WCDMA network, lest users decrypt this type of iPhone and transfer to China Unicom or China Telecom's network. The 0.4 million iPhones already in China are decrypted units.
National Day No Holiday for Car Industry
Due to the slipping car market in the US and Europe, international giants like Toyota have hoped that China's stronger market would give them breathing space, while China's domestic auto market, weak since April this year, has hoped to see a rebound in September and October, a traditionally good season for car sales. But the market has had its own mind, and the week-long National Day holiday has been a disappointment all around.
Huawei Wins Opening CDMA Game After Telecoms Reshuffle
In the war over CDMA, Huawei has never given up and, especially in the international market, is now catching up. The company's 2007 annual report showed it had signed 44.8% of the incremental CDMA base station contracts of that year. Moreover, Huawei had successfully marched into two vast CDMA markets -US and India.
Buffett Buys Stake in BYD
MidAmerican Energy Holdings Co., a unit of Warren Buffett's Berkshire Hathaway Inc, announced to pay $230 million for a 10% stake in BYD, a 12 year old Chinese company focusing on rechargeable batteries, automobiles and IT parts.David Sokol, Chairman of MidAmerican, said BYD's technologies would be an integral part of the future for the care of the environment especially relating to global climate change.
SinoSteel Acquiring Australian Miner Midwest, Eyeing More
With only three days left until the deadline of Sinosteel's offer for Australia-based mining company Midwest, the Chinese steelmaker looks to have taken a decisively controlling stake in the company. It plans to reshuffle the company's board and is considering more M&A in Australia.
Industry Expects Taxes to Curb Surging Steel Exports
The Chinese steel industry is racing to export as much steel and steel products as it can in reaction to rumors over the past few months that the government is about to cancel its tax rebate and/or raise steel export tariffs. Steel exports have sought new highs in both July and August.
China Telecom, Unicom Struggling to Contain Behemoth ChinaMobile
After China's recent reshuffle of its telecoms companies, China Mobile has emerged as the 300 kilo gorilla in mobile communications and its rivals, China Telecom and China Netcom, are leaning on supervisory departments to erect stricter limits over the beast to curb its rapid expansion.
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