China Tech Newsletter – June 11, 2015

Qihoo 360 has become a direct competitor to Xiaomi. Since 2013 the internet security service provider has launched a range of gadgets, many of which rival Xiaomi’s including smart WiFi router, WiFi dongle, video monitoring camera, and, more recently, smartphone. Also, Qihoo’s online store sells gadgets from partners.

Qihoo launches today three new smart WiFi routers and announced its upcoming smartphone will be sold at RMB399 (about $60). The first Qihoo phones will be produced by the joint venture between Qihoo and smartphone maker Coolpad. Both the new smart WiFi routers and Qihoo phone are cheaper than Xiaomi’s.

Weibo announces a social commerce program Darentong, by partnering with Weimai, a mobile commerce marketplace.

Darentong enables Weibo users to share items on Weimai marketplace to multiple social networks, including Weibo, WeChat and other social services of Tencent. Users will get transaction-based revenue cuts. It’s currently unknown whether every Weibo user is allowed to participate. (via Sina Tech)

Alibaba announced to acquire Vulnhunt Inc., a APT (Advanced Persistent Threats) security vendor. (via Sina Tech)

Baidu will acquire a 1.59% stake in SMI Holdings (HK:198), which operates theaters and invests in films and TV dramas, for RMB150 million (about US$24m).


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