China Tech Newsletter – July 9, 2015

4G phone shipments reached 195 million units, a 380% year-over-year growth, in the first half of 2015, according to the latest report by the China Academy of Telecommunication Research. New 4G phone models released in H1 were 552, a 59% year-over-year increase.

Total mobile phone shipments were 237 million, a 7% year-over-year increase.

Shunwei Capital Partners, the venture capital firm co-founded by Xiaomi CEO Lei Jun, has led Series A round of funding in online tutoring service Emlearn. (via Sina Tech)

LeTV (SZ:300104) and its affiliate Letv Sports will invest RMB10 million (about US$1.6) and RMB5 million (about US$800,000), respectively, into Edooon, a fitness tracking app developer.

PC Web, an online community for early care and education, raised UK$293 million (US$38m) after launching its IPO on Hong Kong’s Growth Enterprise Market yesterday.

Established in 2005, the company mainly makes revenues from online advertising. In 2014 it made a total of RMB53.4 million (about US$9m) in revenues, with 80% from advertising.

Gurum Company, Inc., aSouth Korean subsidiary of mobile gaming company Chukong, gets listed on the Korea New Exchange.

Gurum company develops and publishes mobile games, and is responsible for market expansion of Chukong mobile gaming engines in South Korea. The company made about US$21 million in revenues and US$1.5 million in net profit in 2014. (via Sina Tech)

YY Announces Receipt of Preliminary Non-Binding “Going Private” Proposal.

Dangdang Announces Receipt of Preliminary Non-Binding “Going Private” Proposal.


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