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| Thursday, 18 June 2009, 09:04 HKT/SGT | |
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Source: IRG | |
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HONG KONG, June 18, 2009 - (ACN Newswire) - The following is the China excerpt from IRG's TMT Weekly Market Review June 8 - June 14. IRG is a financial advisory and investment firm focused on the core growth sectors in Asia with particular focus on the telecommunications, media and technology (TMT) sectors.
Internet
- Yahoo! has opened a global research and development center in Beijing to tap into China's pool of intellectual talent as it seeks to reduce costs. The center - the third for Yahoo!, with the other two located at its U.S. headquarters and in India - will focus on search, advertising and other personal Internet tools and technologies. The facility will be operated independently from the Alibaba Group, China's biggest e-commerce portal that controls Yahoo!'s operations in the country. Yahoo! owns 39 percent of Alibaba, which also runs China's top online auction site Taobao.com and business-to-business e-commerce platform Alibaba.com. The launch of the Beijing center came after Yahoo! reported a nearly 80 percent slump in its net profit in the first three months of the year, due to the economic downturn, and after announcing that it would trim its workforce by 5 percent.
- Sina Corp. said online advertising sales would rebound as property and vehicle clients increased spending, after reporting a 31 percent drop in quarterly profit because of a decline in revenue. Third-quarter advertising sales were expected to increase from the current quarter. Still, the year-on-year comparison is challenging. First-quarter advertising sales fell 9.8 percent from a year earlier. First-quarter net income dropped to US$9.75 million from US$14.1 million a year earlier with advertising sales fell to US$43.2 million from US$47.8 million. Non-advertising revenue - comprising mostly ring tones, games and other services sold to mobile-telephone users - gained 30 percent to US$30.6 million.
- Microsoft has been asked to pay compensation of more than 70 million yuan (US$10.2 million) by Shenzhen-based quality certification service provider Mowom for Microsoft's failure to fulfill a 2005 contract. Microsoft and Mowom signed a contract to provide information management systems to Changsha cigarette company Baisha, but Microsoft failed to provide the service. Mowom has appealed to the China International Economic and Trade Arbitration Commission for a settlement.
Telecommunications
- Huawei Technologies Co. is open to a partnership with ITI Ltd., just days after the Indian state-run telecom equipment maker invited initial bids from investors interested in buying a stake in three of its six manufacturing plants. Huawei officials have already held exploratory talks with the government. Huawei Technologies India Pvt. Ltd. and ITI are now jointly rolling out state-run Bharat Sanchar Nigam Ltd.'s wireless expansion in south India. The two also have a joint venture to manufacture transmission equipment. ITI is planning to set up three special purpose vehicles or joint venture companies for each of the three units, with equity participation from local or global telecom equipment manufacturers, a bid document for consultants on the company's Web site showed. The investor will have a 51 - 74 percent controlling stake, with ITI owning the balance. ITI has been struggling to win new orders and generate revenue after global equipment makers gathered market share on the back of the latest technology and low-cost offerings.
Hardware
- Lenovo Group, which saw another quarter of losses because of the economic slowdown, posted much-needed double-digit gains in its nascent international server business in the first three months of the year. While each of the world's top five server suppliers suffered a decline in revenue and shipments in the first quarter, Lenovo recorded a 12.3 percent year-on-year gain in revenue to US$19 million and a 32.6 percent increase in shipments, to 10,894 units. IDC market intelligence firm and technology research company Gartner noted that Lenovo was growing from a lower base compared with market leaders Hewlett-Packard, IBM, Dell, Sun Microsystems and Fujitsu. Lenovo's first-quarter market share by revenue was 0.2 percent and its unit shipments made up 0.7 percent of the industry total. First-quarter revenue of the worldwide server industry fell 24.5 percent to US$9.9 billion. Gartner estimated total global shipments were down 24.2 percent to 1.72 million units.
Alternative Energy
- Yingli Green Energy and U.S.-based solar energy company Recurrent Energy have entered into a sales agreement. Yingli will supply Recurrent Energy with crystalline PV modules through 2012 for projects, typically ranging from 2-20MW, in the U.S.
Taiwan
- Three Taiwanese mobile operators are negotiating to build trial networks based on the TD-SCDMA technology, a move that will significantly boost the mainland's homegrown 3G standard. An industry association disclosed the talks after the Industrial Technology Research Institute of Taiwan, an official research organization, and Datang Telecom Technology, the mainland company that owns the TD-SCDMA patent, signed an agreement last week to study the possibility of building a TD-SCDMA trial network on the island. The TD-SCDMA Industry Alliance, a mainland industry organization pursuing development of the technology, said negotiations were in progress with Chunghwa Telecom and Far EasTone Telecommunications on a possible partnership in the trial network. Vibo Telecom, the smallest mobile operator in Taiwan, has expressed interest in the project as well. A trial network in Taiwan will be a milestone for the homegrown 3G standard as it seeks to gain overseas recognition. South Korea was the first country outside the mainland to have a TD-SCDMA trial network, which has been in operation since 2007.
- Chunghwa Telecom and China Telecom have decided to co-lay a submarine telephone cable to connect the outlying island of Kinmen with Xiamen. As Chunghwa will link the islet to the mainland, this cable is being viewed as the first undersea cable to directly link Taiwan and the Chinese mainland since the two sides broke away in 1949 after a civil war. The two telecom carriers made the decision in light of surging demands for broadband connections on both sides of the Taiwan Straits. Chunghwa Telecom Chairman S.Y. Lu estimates the connection will allow telecom-service providers on both sides to further cut rates on their mobile-communications and data-communications services.
Media, Gaming and Entertainment
- GigaMedia Limited reported first quarter revenues of US$44.4 million, down 13 percent year-on-year and flat from the previous quarter. Asian online gaming revenues were US$12.7 million, up 33 percent from the previous quarter and down 2 percent year-on-year. The sequential increase in Asian games revenue helped to offset lower revenue in the company's gaming software business caused by the financial crisis. Net income fell to US$4.8 million from US$12.1 million in the first quarter of 2008. Shanghai-based online game company T2CN contributed US$5 million to GigaMedia revenues, down 15 percent annually but up 43 percent sequentially. T2CN results were especially strong in the year-ago period, due in part to a severe winter storm, and exceptionally weak in the previous quarter, due to a hacking incident in T2CN's licensed online basketball game FreeStyle. T2CN's average monthly active paying accounts were up 20 percent sequentially to approximately 404,000 accounts, while average monthly revenue per account was US$4.08, up 18 percent from last quarter. FreeStyle's peak concurrent users grew 7 percent from the fourth quarter to about 119,000.
Hong Kong
- PCCW Ltd. wants to cooperate with Chunghwa Telecom Co., Taiwan's largest phone company by revenue, on Internet TV services. The two companies signed a letter of intent on IPTV in 2006 but Chunghwa Telecom was prevented from carrying out the agreement by Taiwan's restrictions on China-related investment and regulatory curbs on IPTV development.
- Yahoo Hong Kong is sharpening its focus on growth opportunities in the mobile internet arena and smarter ways for advertisers to reach their target customers online. Yahoo's Chinese-language services, ranging from search, e-mail, news, finance, auctions, blogs, and music to sports and games, rank No. 1 in Hong Kong. The portal operator is set to make available for free the Chinese-language version of Yahoo Mobile for the Web on iPhone-maker Apple's online iTunes Apps Store. The Yahoo Mobile for the Web application was introduced to the iPhone and about 300 other internet-ready mobile-telephone models in April. The application brings mobile search and editor-selected content, access to e-mail and social network accounts from the most popular Web providers, instant messaging, address book and calendar tools, and links to other favorite websites in a single location.
Topic: Corporate Announcement
Source: IRG
Sectors: Media & Marketing, IT Individual
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