VENTURE CAPITAL POST

Samsung Electronics Co Ltd (005930.KS) is heading for its first annual earnings drop since 2011 after it revealed its July-September profit would be the lowest in more than three years and said short-term prospects for smartphones were uncertain.

Samsung Electronics Co Ltd plans to invest $14.7 billion to construct a new chip production plant in South Korea, a major bet on its semiconductor business amid a smartphone earnings slump.

When popular Chinese handset maker Xiaomi Inc admitted that its devices were sending users' personal information back to a server in China, it prompted howls of protest and an investigation by Taiwan's government.

Jack Ma, executive chairman of Alibaba Group Holding Ltd (BABA.N), has become China's richest man with a fortune estimated at $25 billion, underscoring the ascension of tech tycoons over real estate peers in the world's second biggest economy.

Santa Clara, US-based semiconductor chip maker Intel Corp shelled out $100 million to establish an innovation center in China to accelerate the innovation of smart equipment in the Asian country.

Analytics company Umeng said the number of active smartphone users in China has surpassed the 700 million mark as of the end of 2013, TechCrunch reported.

Beijing, China-based software company Kingsoft will sell a a 4.7% stake worth $20 million in its game developing subsidiary Westhouse to Chinese smartphone manufacturer Xiaomi.

HTC Corp intends to expand its range of more affordable smartphones after the losses it experienced last year for its high-end product offerings, Reuters reported.

Data showed that Android holds the top spot as the most popular mobile platform in the world but Samsung is clearly under pressure as local players step up their game, TechCrunch reported.

Chinese founders of technology firms that have become billion dollar firms have gone on to start other companies or act as benefactors of other startups or give guidance to young firms, the Financial Times reported.

Android vice-president Hugo Barra left Google amid marriage troubles between Sergey Brin and Anne Wojcicki.