Tencent upgraded WeChat as the Chinese company hoped to boost its revenue through addictive games on mobile devices.
Tags: China
Sequoia Capital to invest US$1.1 billion
Sequoia Capital raises US$1.1 billion of funds from five new ventures in Israel, China and the United States.
L'Oreal makes offer to buy Chinese facial mask company for US$840 million
L'Oreal puts in an offer to buy Magic Holdings Ltd for US$840 million. L'Oreal recently made an US$840 million-dollar offer to purchase Magic Holdings International Ltd.
China to probe EMC, IBM, Oracle for security issues
Shanghai Securities News said the Ministry of Public Security and a cabinet-level research center of China were preparing to investigate on EMC Corp, IBM Corp and Oracle Corp over security concerns.
Lenovo mobile sales drives rise in profit
Lenovo Group said the corporation is currently evolving as a wireless computing supplier due to the booming sales of smartphones and tablets.
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Xinhua reported that French drugmaker Sanofi had become the focus of bribery investigations by Chinese authorities.
A private survey revealed that China's PMI for the services sector showed signs of growth. The HSBC/Markit Purchasing Managers' Index (PMI) survey for the services sector in China showed signs of improvement.
Canalys told Bloomberg that Apple's market share in China plunged to just 5% during the second quarter, down from last year's 9%.
The Smartphone-like network of switches would be offered by Huawei in October to boost its market share and challenge its rival, Cisco.
Xiaomi Tech has overtaken Apple's market share in China with 0.2% lead. Xiaomi Tech, a Chinese smartphone manufacturer, has already surpassed Apple's market share in China.
According to analysts, Apple should focus on the growing smartphone markets like China and India. Canalys, a research firm, said China and India were important countries that Apple needs to focus in terms of growth in the smartphone market.
Shanghai Tower's top beam was recently installed and now the interiors are to be completed. The tallest building in the financial district of Shanghai and all of China is nearing completion.
According to data by the Financial Supervisory Service, Chinese investments in South Korea's local securities increased 42 times since late 2008.
Data from Private Equity International and Thomson Reuters revealed that private equity companies are now Asia's new bankers.
