Putin’s favorite Russian smartphone YotaPhone is now owned and produced in greater China
Hong Kong investment holding group, Rex Global Entertainment, now controls Russia’s Yota Devices, manufacturer of the YotaPhone, having acquired 64.9% of the company’s stock. After the acquisition, Yota Devices will still be headquartered in Moscow, Russia. It’s reported that Rex Global Entertainment’s primary shareholders have established connections in China’s telecommunications business, which will contribute to YotaPhone’s future business development in China. Read AllChinaTech’s full report.
Xiaomi to boost sales with possible bus app and new touch ID
Despite recently losing its top spot on the Chinese smartphone market to Huawei, Xiaomi continues to develop new businesses like the touch ID technology for its new Redmi smartphone, the Xiaomi laptop, and a possible transit app. Recently, Xiaomi registered a new trademark for Xiaomi Bus, which, according to insiders, may be a new app for public transportation. Xiaomi is also reported to be turning its focus from phones to other smart devices. Read ACT’s full report.
Alibaba, Meizu take on Xiaomi, co-launch smartphone for under RMB 1000
Alibaba and Meizu co-launched the metal-bodied Meilan Metal phone last week. Its launch marks the first phone to come out of Alibaba and Meizu’s cooperation. It’s priced under 1000 RMB, a price level dominated by Xiaomi. Alibaba invested $590 million US in Meizu back in February, with aims to find a home for its operating system YunOS.
Tesla may start producing cars in China in 2017
Tesla is in discussion with Chinese state and national government officials to start producing cars in China in two years, Reuters reported. Establishing Chinese local production facilities could reduce the cost of Tesla cars in China by up to a third. Tesla is an attractive brand for Chinese customers. It delivered 33,117 vehicles in the first three quarters of this year, while sales in China account for about 10% of its total sales worldwide.
ImbaTV fundraises USD 15.7m from investors including Wang Sicong
Wang Sicong, the son of China’s richest businessman, Wang Jianlin, is known for his playboy tendencies and outrageous media personality. After founding Panda TV, a popular video streaming website, he has become the chairman of the newly established China Mobile E-sports Association. Wang junior said the Association could reshape the entire mobile e-sports market, which is currently dominated by BAT. Wang has already launched a series of capital allocations in the promising new sector. He just invested ImbaTV, a platform focuses on E-sports.