4G phone shipments saw a 790% year-on-year increase in the first quarter while an 88% decrease occurred in 3G phone shipments, according to the latest report on China’s mobile phone market by the China Academy of Telecommunication Research.
The total mobile phone shipments in the quarter were 109 million, an 8% year-on-year increase. 391 new phone models launched during the quarter.
In march, 3G phone shipments decreased 92% year-on-year while 631% increase occurred in 4G phone shipments.
Of the total 32 million smartphones shipped in March, 26.5 million are Android-powered. 105 new smartphone models became available in China market during the month, a 46% year-on-year decrease. (full report in Chinese)
Classified listing site 58.com Inc. (NYSE:WUBA) announced to acquire a 43% stake in its longstanding rival Ganji.com (Falcon View Technology Ltd.) on a fully diluted basis with new shares (34 million) and cash (US$412m). 58.com shares had jumped by a third as of yesterday since the Financial Times broke the news of a potential merger a couple of days earlier.
Tencent, currently holding 25.3% a stake in 58.com, is investing another US$400 million that its stake will be 25.1% after 58-Ganji deal completes.
Both founded in 2005, 58.com and Ganji.com are estimated to have a combined share of over 70% in China’s classified ad market. The two brands will continue to operate independently, according to the press release, but Yao Jinbo, CEO of 58.com, noted that they planed to integrate their “respective businesses”.
58.com IPOed on the NYSE in October 2013. Ganji.com has raised a total of more than US$388 million in disclosed funding.
58.com generates revenues mainly from business-facing premium subscriptions and online marketing (real-time bidding and priority listing services).
The two companies began to expand their Craigslist-like business a couple of years ago, trying to become marketplaces for local services.
58.com introduced Alipay escrow solution to enable online transactions in 2013 and unveiled in 2014 a peer-to-peer lending service to finance merchants on its site. More recently the company launched 58Daojia, an on-demand service platform that so far supplies housekeepers and house-moving workers.
Ganji has launched a customer-to-customer second-hand car marketplace, a on-demand car wash service, and has partnered with Fangdd.com to sell new homes online.
Ningbo Joyson Electronic Corp. (600699.SZ) announced that its majority-owned subsidiary Preh GmbH had landed an order for battery management system components from Tesla Motor.
US solar energy solutions provider SunPower Corp announced to partner with Apple Inc. to build two solar power projects in southwest China’s Sichuan province.
5miao.com, HTML5 game publisher and distributor, has pocketed funding from Zeng Liqing, co-founder of Tencent and founder of Decent Capital. Before 5miao Mr. Zeng had invested in two HTML5 gaming-related startups. (via Donews.com)
Chifaner.com, a food service for businesses, has raised Series A round of funding from Greenwoods Investment, Source Code Capital and Ether Capital. Financial terms were not disclosed. (via Lieyunwang.com)