China Tech Newsletter – April 30, 2015

Chongzi L1
Chongzi L1

Chongzi, the newest Android phone brand, launches its first model Chongzi L1. It sports similar specs to major Chinese high-end Android phones. It’s now taking pre-orders through its own online store.

Tencent has begun testing its user data-based credit scoring service, unveiled in late 2014, among its QQ membership subscribers. The service generates credit scores and reports based on users’ tracks across Tencent’s products. (via Beijing Morningpost)

Tencent and Alibaba’s finance arm Ant Financial were of the first eight companies that were granted licenses by China’s central bank to establish consumer credit scoring operations. Ant Financial launched its Sesame Credit earlier in January.

Baidu reports first quarter results. Total revenues increased 34% year-on-year while operating profit saw a 9% year-on-year decrease. 50% of the total revenue were from mobile, up from 42% in the previous quarter.

Tencent has agreed to acquire 14.6% a stake in mobile game developer and publisher Glu Mobile for US$126 million.

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