May 04, 2012
Wang Xiaochuan, CEO of Chinese Internet firm Sohu's (Nasdaq: SOHU) Sogou search engine, said recently that to increase space for Sogou's development and attract away more or rival Baidu's (Nasdaq: BIDU) users, Sogou will pursue a model of "client ports and pan-search," rather than attempting to compete head-on with Baidu.
In late April, Alibaba Group's B2C e-commerce site TMall organized over 800 meetings with electronics manufacturers, including Chinese manufacturers Lenovo (0992.HK) and Skyworth Digital Holdings (0751.HK) as well as overseas manufacturers such as LG Electronics and Philips, to announce the company's plans to open up a large-scale promotional "price war" over the course of the next four months.
Following May Day sales at the start of the month, a number of employees at China Telecom (NYSE: CHA; 0728.HK) and domestic handset manufacturers including Huawei and Yulong (Coolpad) say that there is another shortage of RMB 1,000 smartphone handsets which the operator has taken urgent measures with manufacturers to address.
Chinese television advertising company China Mass Media (NYSE: CMM) has announced that its board of directors has received a non-binding proposal letter from Wang Shengcheng, the controlling shareholder of the company, pursuant to which Wang proposes to acquire (i) ADSs of the company held by the public investors for cash at not more than USD 5.00 per ADS; and (ii) options issued under the 2008 Equity Incentive Scheme of the company for cash at not more than USD 0.0167 per option.
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