Apr 29, 2011
Beijing-based social networking site operator Renren Inc., formerly Oak Pacific Interactive, has announced its Q1 2011 financial results in an update to its IPO prospectus, with net revenues reaching USD 20.6 mln, a 46.6% increase from USD 14.0 mln for the three months ended March 31, 2010.
At the recent Global Mobile Internet Conference 2011 in Beijing, Charles Chao, president and CEO of Chinese internet company Sina (Nasdaq: SINA), said that his company saw six possible business models for its Sina Weibo microblogging product: interactive, targeted advertising; social gaming; real-time search; wireless value-added services; e-commerce; and premium digital content.
According to an industry source, on April 27, China Unicom (NYSE: CHU; 0762.HK; 600050.SH) distributed approximately 60,000 white iPhone 4 models to its own retail channels and domestic strategic retail partners, such as home appliance and consumer electronics retailers Gome (0493.HK) and Suning (002024.SZ) and B2C e-commerce platform 360Buy.
At yesterday's International E-Book Industry Forum in Yangzhou, Jiangsu Province, Lei Jun, VP of Chinese consumer electronics company Beijing Huaqi (Aigo), revealed that the company will release a RMB 499 E-ink e-reader sometime later this year, half the price of the lowest-priced e-reader currently on the market.
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