Thursday, March 28

Tag: China

Tencent to Dominate China’s eSports Market Following $10 Billion Merger
CHINA

Tencent to Dominate China’s eSports Market Following $10 Billion Merger

eSports is one of the fastest-growing markets in the world. The most modern of entertainments, it has turned video gaming into a viewer sport one with a vast global audience. Due to its extensive size and reach, it has lately become a point of interest for tech companies from every corner of the globe. While Amazon-owned Twitch is currently the world’s leading eSports platform, its crown is not secure, and Tencent and its subsidiaries have recently made some major moves to remove Twitch from its leading position most particularly, in Tencent's home country, China. A Lucrative Industry For those who have followed eSports in recent years, it comes as no surprise to discover that this unique form of entertainment has a huge international audience. Especially popular among the yo...
PUBG Corporation Cuts Ties With Tencent After India ban
News

PUBG Corporation Cuts Ties With Tencent After India ban

New Delhi, 8th Sept 2020: After a recent move by the Indian government to ban 118 Chinese apps including the popular mobile game PUBG forced Korean company PUBG Corporation to cut ties with Chinese company Tencent for India's operation. In its press release, PUBG Corporation said, "it has made the decision to no longer authorize the PUBG MOBILE franchise to Tencent Games in India. Moving forward, PUBG Corporation will take on all publishing responsibilities within the country. As the company explores ways to provide its own PUBG experience for India in the near future, it is committed to doing so by sustaining a localized and healthy gameplay environment for its fans.We are actively monitoring the situation around the recent bans of PUBG MOBILE and PUBG MOBILE Lite in India and fully u...
Indian Govt bans 118 more Chinese Apps, including PUBG
INDIA

Indian Govt bans 118 more Chinese Apps, including PUBG

New Delhi, Sept 2 2020: The Indian government blocked 118 more mobile applications, including popular gaming app PUBG, terming them prejudicial to the sovereignty, integrity and defence of the nation. The banned apps include Baidu, Baidu Express Edition, Tencent Watchlist, FaceU, WeChat Reading and Tencent Weiyun, besides PUBG Mobile and PUBG Mobile Lite, according to an official statement. All these banned apps have Chinese links, sources said. The Centre had earlier banned a number of Chinese apps, including TikTok and UC Browser. "Government blocks 118 mobile apps which are prejudicial to sovereignty and integrity of India, defence of India, security of state and public order," it said. It said the IT Ministry had received complaints from various sources, including sever...
Chinese Govt complicates TikTok sale ordered by US govt
CHINA

Chinese Govt complicates TikTok sale ordered by US govt

New York, Aug 31, 2020 (AP): The Chinese government is complicating the US-government-ordered sale of US TikTok assets. China on Friday introduced export restrictions on artificial intelligence technology, seemingly including the type that TikTok uses to choose which videos to spool up to its users. That means TikTok''s Chinese owner, ByteDance, would have to obtain a license to export any restricted technologies to a foreign company. The Trump administration has threatened to ban TikTok and ordered ByteDance to sell its U.S. business, claiming national-security risks due to that Chinese ownership. The government worries about user data being funneled to Chinese authorities. TikTok denies it is a national-security risk and is suing to stop the administration from the threatened ban....
Alibaba beats Quarterly Revenue, Profit Estimates
CHINA

Alibaba beats Quarterly Revenue, Profit Estimates

China’s Alibaba Group Holding Ltd beat quarterly revenue and profit estimates on Thursday as its core commerce and cloud computing businesses benefited from a shift to online shopping and working from home due to the coronavirus crisis. The company’s U.S.-listed shares were up marginally before the bell. The stock has gained about 23% this year, but has faced pressure as U.S. President Donald Trump has said he could exert pressure on more Chinese companies after he moved to ban TikTok. Sales from the company’s core commerce business jumped 34% to 133.32 billion yuan ($19.27 billion) in the three months ended June. Alibaba said its domestic core commerce business has fully recovered to pre-COVID-19 levels, while cloud computing revenue surged 59% to 12.35 billion yuan. Excludin...
Chinese Company Files $1.4 Billion Lawsuit Against Apple
CHINA

Chinese Company Files $1.4 Billion Lawsuit Against Apple

Shanghai, 3rd Aug 2020: Chinese artificial intelligence company Shanghai Zhizhen Intelligent Network Technology Co, Ltd, also known as Xiao-i, has filed a lawsuit against Apple Inc, alleging it has infringed on its patents. The company is calling for 10 billion yuan ($1.43 billion)in damages and demands that Apple cease "manufacturing, using, promising to sell, selling, and importing" products that infringe on the patent, it said in a social media post. Xiao-i argued that Apple's voice-recognition technology Siri infringes on a patent that it applied for in 2004 and was granted in 2009. Apple did not respond to a request for comment. Reuters was not immediately available to find a copy of the court filing. The lawsuit marks the continuation of a row that has been ongoing for n...
UK bans Huawei from 5G Network
News

UK bans Huawei from 5G Network

London, Jul 14, 2020: The UK government banned Huawei from its 5G telecom network, reversing an earlier decision to allow the Chinese tech giant a limited role in building the country's super-fast wireless infrastructure. Huawei will be completely removed from the UK’s 5G networks by the end of 2027, the government announced after a review by the country’s National Cyber Security Centre (NCSC) on the impact of US sanctions against the Chinese telecommunications company. In the lead up to this complete removal of all Huawei kit from UK networks, there will be a total ban on the purchase of any new 5G kit after December 31, 2020. The decision was taken at a meeting of the UK’s National Security Council (NSC) chaired by Prime Minister Boris Johnson, in response to new US sanctions a...
Smartphone shipments in China fall 16% in June
CHINA

Smartphone shipments in China fall 16% in June

SHANGHAI, 13th July 2020 (Reuters) - Smartphone shipments in China fell 16% in June compared with a year earlier, according to government data released on Tuesday. The numbers suggest that handset demand in China remains lukewarm despite the country’s recovery from the coronavirus pandemic, boding poorly for Apple Inc AAPL.N and its local rivals like Huawei Technologies Co Ltd. Phone makers shipped 27.7 million handsets in June, down from 32.7 million in June 2019, according to the China Academy of Information and Communications Technology (CAICT), a state-backed think tank. That follows a similar decline in May, when shipments dropped more than 10% annually, from 36.4 million in May 2019 to 32.6 million one year later. In April, after a slump in the previous months due to the...
Alibaba’s Jack Ma sells $9.6 billion worth shares, stake dips to 4.8%
News

Alibaba’s Jack Ma sells $9.6 billion worth shares, stake dips to 4.8%

Alibaba Group Holding Ltd co-founder Jack Ma has cut his stake in the company over the past year to 4.8% from 6.4%, cashing out around $9.6 billion at its current share price, the firm's annual filing released on Friday showed. The divestment comes as Ma retired as the Chinese e-commerce company's executive chairman in September and pulled back from formal business roles to focus on philanthropy. Alibaba did not disclose the average selling price of his divestment. Its share price has risen around 40% since Ma reported his 6.4% holding in the company a year ago. The stock's stellar performance has been helped by forecast-beating earnings growth, even as China's economy sharply slows, as more people shop online for essentials due to the COVID-19 pandemic. Alibaba Executive Vice...
TikTok Ban will Hit Parent Firm ByteDance’s $1 Billion Expansion Plan
News

TikTok Ban will Hit Parent Firm ByteDance’s $1 Billion Expansion Plan

New Delhi, 30th June 2020: A ban on 59 Chinese apps including Tiktok by the Indian government over security issues derailed Chinese company ByteDance $1 billion India expansion plan. Tiktok app is owned by its parent firm ByteDance was removed from Google and Apple app stores in India after the Indian government announced on Monday that it was among the 59 apps which it believed posed a "threat to sovereignty and integrity". "If this is not rolled back, these companies would be constrained to cut back their operations in India, potentially resulting in a loss of employment," said a lawyer who advises a Chinese company whose app has been banned. China's foreign ministry said it was "strongly concerned" about India's decision, adding that India had a "responsibility to uphold the l...
Indian government ban 59 Chinese Apps, Tiktok replied
INDIA

Indian government ban 59 Chinese Apps, Tiktok replied

New Delhi, 30th June 2020: India government banned 59 Chinese apps including hugely popular TikTok, Shareit, etc. stating that they were prejudicial to sovereignty, integrity, and security of the country. Amid current stand-off along with the Line of Actual Control (LAC) with China, the move by the Indian government sends a clear message to the world about India's stand over Chinese incursion. The Information Technology Ministry in a statement said it has received many complaints from various sources, including several reports about misuse of some mobile apps available on Android and iOS platforms for "stealing and surreptitiously transmitting users' data in an unauthorised manner to servers which have locations outside India". "The compilation of these data, its mining and prof...