China Tech Newsletter – Nov. 10, 2015

image: ifanr

Tencent launches miniStation, an Android-based game console, and a developer platform for third parties to develop virtual reality content and applications.

miniStation runs on a customized Qualcomm processor with the Adreno GPU built in and is loaded with TencentOS (TOS), an in-house developed custom Android system. Eight games have been available on the platform.

WeChat monthly active users (MAU) were 650 million as of the third quarter, up 39% year-over-year (YoY).  Mobile QQ app MAU were 639 million, an 18% YoY growth.

Wexin Pay (a.k.a. WeChat Payment) and QQ Wallet had signed up a total of over 200 million users that had added their bank accounts.

Tencent reports 34% YoY revenue growth in the third quarter. Smartphone game revenues grew 60% YoY to RMB5.3 billion (roughly US$855M). announces to shut down, the customer-to-customer marketplace transferred from Tencent in 2014.

The store services will end at the end of this year and the site will be closed down on April 1st, 2016. JD said it’s because of the difficulty to completely eliminate counterfeits. (via Tencent Tech)

MiFinance, the financial product platform Xiaomi launched earlier in May, has landed on major Chinese Android app stores including Tencent’s MyApp, 360 Mobile Assistant and Wandoujia. The app was previously only available to Xiaomi device users.

There have been three investment funds on the app. MiFinance unveiled a personal loan product earlier in September, but the mobile app currently doesn’t offer it.

Mobile advertising service Youmi has got listed on China’s New OTC Market (or China’s New Third Board). Founded in 2010, Youmi made RMB409 million (about US$66M) in revenue in 2014 with RMB41 million (about US$6.6M) in profit.

Last month Apple’s App Store removed hundreds of apps that extract personal information through an SDK from Youmi.

Meituan-Dianping announces management changes that Wang Xing, founder of Meituan, will serve as CEO and Zhang Tao, founder of Dianping, will serve as chairman. When Meituan and Dianping, the two leading local service platforms, announced to merge last month both CEOs took on dual roles of co-CEO and co-Chairman of the new company.

Baidu is reportedly in talks to invest US$100 million in Indian e-commerce company Mydala. — India Times


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