Lenovo Shipped Record 18.7M Smartphones in Q4 2014, But Profit Dropped 37%

lenovo Lenovo just completed its first full quarter of business as the owner of Motorola and, with its $2.91 billion acquisition from Google under its wing, the Chinese company shipped a record 18.7 million smartphones in its most recent Q4 2014 quarter. Read More

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Face++, Whose Facial Recognition Tech Is Used By Alibaba, Raises $25M

Face++ Face++, a Chinese startup that makes facial recognition technology used by Alibaba, has secured an additional $25 million for its series B round. Along with capital raised in November, this brings the company’s total series B to $47 million. A Face++ representative tells TechCrunch that existing investors Qiming Venture Partners and Innovation Works returned for the round. Read More

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Alibaba Needs To “Globalize,” Says Its New CEO

Alibaba The bulk of Alibaba’s revenue still comes from China, but the e-commerce giant will focus aggressively on growing its global business this year. Daniel Zhang, who took over as chief executive officer last week, told employees in in a recent speech that not only will Alibaba pour money into its global businesses, but also transform its company culture. Read More

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Tencent Beats With Q1 Sales Of $3.6B, $1.1B Profit On Strong Games And Video Ads

tencent Growth in revenue from games and advertising on mobile helped Chinese internet giant Tencent beat analyst expectations for its Q1 2015. Read More

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European Hardware Accelerator Woos Chinese Investors

high tech XL Back in summer 2013 shiny new European hardware accelerator, Startupbootcamp HighTechXL, began the search for its first cohort of startups. The 11 teams in its second edition raised a total of $6.3 million on Demo Day and directly afterwards, it said today. Read More

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Baidu Sees Revenue Growth And Profit Slump In Q1 2015

baidu Baidu, China’s largest internet search and maps provider, continues to see slowing financials as it transitions to the rise of mobile. The company’s latest Q1 2015 financial report continued an ongoing decline in revenue growth and saw net profit dip year-on-year too. Read More

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Ticket Booking Startup Beijing Weiying Raises $105M From Investors Including Tencent

movie theater Beijing Weiying Technology, the maker of a movie ticket booking platform that is embedded in WeChat, China’s largest messaging app, has raised a $105 million series B. Investors include WeChat owner Tencent and Wanda Group, one of China’s largest movie theater operators. Read More

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Alibaba Teams Up With China’s Largest Telecom To Sell Smartphones To Rural Customers

alibaba coffee cup Alibaba has partnered with China’s biggest telecom operator to sell low-cost smartphones to people in rural areas for prices as low as 299 RMB ($48). The deal with China Telecom, which has 186 million users, is part of a two-pronged strategy for the e-commerce giant, which sees smaller cities as key to its growth plans for its e-commerce business and operating system YunOS. A line of… Read More

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