With an opening concert from Katy Perry and an appearance by former basketball player Kobe Bryant, China’s Singles Day sale kicks off this week with more glitz than ever. The 24-hour sale was not invented by Alibaba but the ecommerce group has made it a fixture of the retail calendar. Now the company plans to […]
Category: Tech, Media & Telecom
Lenovo swung to a slim profit in its fiscal second quarter, helped by the sale of an office building, but faced further struggles in its smartphone venture, according to The Wall Street Journal. Sales declined from the year-earlier period in each of Lenovo’s three main business groups: personal computers, mobile devices and data centers. Lenovo’s […]
China’s Huawei Technologies wants to be the world’s second-largest maker of smartphones in two years, Richard Yu, chief executive of Huawei’s consumer business group, told Reuters. Huawei on Thursday launched a new premium phone, which will sell for 699 euros apiece. A version developed with Porsche Design will cost 1,395 euros. The phone has a […]
Alibaba Group Holding Ltd. reported strong results in its latest quarter despite uncertainties about China’s economy, with users increasing spending and the company showing profit potential in segments beyond e-commerce, according to The Wall Street Journal. Revenue for the three months ended Sept. 30 exceeded analysts’ expectations, rising 55% to $5.14 billion from a year […]
Caixin reports raising money from once-generous venture capitalists is becoming a more-challenging task for many startup founders in China, as the economy continues to slow and stock market volatility makes investors more cautious. Venture capital firms made 698 investments in China in the third quarter this year, down 34% from the same period last year, […]