Bottom line: NetEase’s new California R&D center could become an important hub for its future global growth, while Zynga’s China pull-out reflects the extreme difficulties foreign firms face in the local gaming market.
NetEase opens US R&D center
Just a day after I wrote that online gaming giant Tencent (HKEx: 700) may be planning a major new drive into the US, we’re hearing that its top rival NetEase (Nasdaq: NTES) is also moving into the neighborhood with plans for a new California R&D center. NetEase’s move comes after search leader Baidu (Nasdaq: BIDU) and Tencent both set up US offices last year, though only Baidu actually announced a major new product development center. (previous post) All of these moves represent the Chinese companies’ efforts to tap into the Silicon Valley ethos, which has far more of the skills they will need in their quest to enter global markets outside of China. Read Full Post…
The following press releases and media reports about Chinese companies were carried on February 17. To view a full article or story, click on the link next to the headline.
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Ourpalm (Shenzhen: 300315) Acquires 3 Game Firms In 4.3 Bln Yuan Deal (Chinese article)
Anbang Pledges $1.1 Bln Capital In Purchase Of Vivat (English article)
Zynga (Nasdaq: ZNGA) Loses $226 Mln In 2014, Shutters Zynga China (English article)
Vipshop (NYSE: VIPS) Reports Unaudited Q4 And Full Year 2014 Results (PRNewswire)
Yongche Complains Of Monopoly With Didi-Kuaidi Taxi App Merger (Chinese article)
The following press releases and media reports about Chinese companies were carried on June 20-22. To view a full article or story, click on the link next to the headline.
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Spreadtrum (Nasdaq: SPRD) Announces Receipt of Acquisition Proposal (PRNewswire)
More US Senators Concerned By Shuanghui-Smithfield (NYSE: SFD) Deal (English article)
Regulator Says Alibaba’s Yu E Bao Product Violates Securities Rules (Chinese article)
China Mobile (HKEx: 941) Halts New User Registration For Skype-Like Jego (Chinese article)
Zynga China Reportedly Laid off 18 Pct Employees, GM to Resign (English article)
