Tencent’s profit surges 69% thanks to its thriving games business

 Tencent, Asia’s highest-valued technology company, has smashed analyst forecasts for its Q3 2017 after it posted a profit of 18 billion RMB ($2.7 billion) on revenue of 65.2 billion RMB ($9.8 billion). That blew past expectations of 15.7 billion yuan and 61 billion yuan, according to analysts polled by S&P Global Market Intelligence, thanks to its high-performing mobile and PC… Read More

Qualcomm announces investment in Mobike and eight other Chinese startups

 Qualcomm is continuing its charm offensive in China, a critical market where it has suffered hard blows in recent years including a $1 billion anti-trust fine, after it announced a flurry of new investments. These are chaotic times for Qualcomm, which is fielding unwanted acquisition interest from Broadcom and battling Apple in court, but today it put the focus back on supporting upcoming… Read More

Amazon’s AWS business is reportedly pulling out of China

aws logo It looks like Amazon is removing itself from the Chinese cloud services industry on account of stringent new data laws that went live in the country earlier this year. The U.S. company has agreed to sell its China-based web services business to Beijing Sinnet, the local partner that operates it, according to a filing on the Shenzhen Stock Exchange that was noted by The Wall Street Journal… Read More

China’s second largest e-commerce firm just showed Alibaba has competition

 Alibaba invented China’s biggest shopping day — 11/11 aka Single’s Day — and it dominates the headlines with record sales year-on-year, but another company just stepped out to remind us that others are busy trying to close the gap. JD.com, the perennial challenger to Alibaba’s e-commerce empire in China, just revealed its 11/11 figures for the first time. While… Read More

iPhone 8 launch propels Apple to growth in China after 18 months of sales dips

 Apple is finally back to growth in China. The company has broken a run of sales decreases that stretches back six quarters thanks to promising early signs for the newly released iPhone 8, according to a new report from Canalys. The analyst firm recorded 40 percent annual growth for Apple in Q3 2017 with 11 million shipments during the three-month period. It noted also that the iPhone 8… Read More

Chinese social media giant Weibo is raising $700M to fund acquisitions

 Weibo, the Twitter-like Chinese social network that is profitable unlike Twitter, is raising $700 million as it looks for acquisitions to continue the rocket ship growth its business has seen in 2017. The Beijing-based company, which is listed on the NASDAQ with a current market cap of $21 billion, announced today it will offer up to $700 million in convertible senior notes in order to… Read More

Tesla reportedly made deal to open a manufacturing facility in Shanghai

 Tesla has reportedly made a deal with the government in Shanghai to open up a manufacturing facility in the city’s trade-free zone, the Wall Street Journal reports. Foreign car-makers traditionally partner with local manufacturers, but that will reportedly not be the case with Tesla. Instead, Tesla will own the entire factory. That means Tesla will be able to cut some costs of production… Read More

WeChat begins censoring users ahead of China’s National Party Congress

 Expect to see plenty of censorship news coming out of China over the next week. The country’s National Congress is a hugely influential political summit that takes place every five years, and includes the selection of central party leadership. It is also a time when Chinese censors are on high alert, particularly when it comes to online media. Read More

Logistics on-demand startup Lalamove raises $100M as it approaches a $1B valuation

 Unicorns are like buses for Hong Kong. After living in the shadow of other cities and waiting around for its first, it now has (almost) two billion-dollar companies within months… and in the same space. GoGoVan became the country’s first unicorn in September following a merger deal with China-based 58 Suyun, and now Lalamove — another Hong Kong company specializing in… Read More

Why ARKit will make more money than ARCore or Camera Effects (for now)

 After the iPhone X, iPhone 8 and ARKit launches, it’s clearer than ever that Apple owns the four waves of augmented reality. But Google’s launch of ARCore has the startup CEOs, corporates and VCs Digi-Capital works with confused (not to mention Facebook Camera Effects). While there are technical/performance differences between the platforms, they’re more alike than different… Read More