1. AutoNavi, Delphi Reach Deal
AutoNavi and Delphi announced a strategic deal to jointly promote app development of interconnected infotainment systems and automatic driving technologies in the Chinese market.
The strategic cooperation is non-exclusive and financial terms were not released. The cooperation will cover big data, navigation and travel services, and automatic driving technologies.
In big data and navigation and travel services sectors, the two parties will implement infotainment system and IT-related service innovations targeting the Chinese market. Relying on AutoNavi's real-time traffic information and location-based online maps, Delphi will provide route planning services and online point of interest search services in its infotainment system and navigation system.
In addition, Delphi will integrate AutoNavi's online content service to provide online payment service and online streaming media services in its interconnected infotainment system.
For automatic driving, the two companies will implement in-depth cooperation based on automatic driving map data, related software capacities, and cloud computing capacities. They will offer cloud-based automatic driving service in the Chinese market to meet demands of users. AutoNavi will provide a high-precision positioning technology for the future automatic driving project of the two parties.
2. Hisense's Net Profit Down 47.39% In First Three Quarters Of 2017
China's TV maker Hisense recently published its financial report for the third quarter of 2017 and showed profitability has gone down.
From January to September 2017, the company's operating revenue was CNY23.746 billion, a year-on-year increase of 7.57%. Its net profit attributable to shareholders was CNY600 million, a year-on-year decrease of 47.39%; and its earning per share was CNY0.46.
Hisense's operating revenue for audio-visual equipment saw an average decline of 12.24% during the first three quarters of 2017; while its related net profit saw an average decrease of 42.77%.
Commenting on the net profit decline, Hisense's representative said that it was attributed to the increase of material costs. To respond to the net profit decline, the company will make adjustments in the future, but the specific adjustments will be based on the future material price changes.
Hisense specializes in the research, development, manufacturing and sale of televisions, digital television broadcasting equipment, refrigerators, and information network terminal products.
3. Makers of mobile games head abroad
4. China’s tech giants have gone from startup killers to partners
6. Walmart’s $16b takeover of Flipkart gets regulatory nod
AutoNavi and Delphi announced a strategic deal to jointly promote app development of interconnected infotainment systems and automatic driving technologies in the Chinese market.
The strategic cooperation is non-exclusive and financial terms were not released. The cooperation will cover big data, navigation and travel services, and automatic driving technologies.
In big data and navigation and travel services sectors, the two parties will implement infotainment system and IT-related service innovations targeting the Chinese market. Relying on AutoNavi's real-time traffic information and location-based online maps, Delphi will provide route planning services and online point of interest search services in its infotainment system and navigation system.
In addition, Delphi will integrate AutoNavi's online content service to provide online payment service and online streaming media services in its interconnected infotainment system.
For automatic driving, the two companies will implement in-depth cooperation based on automatic driving map data, related software capacities, and cloud computing capacities. They will offer cloud-based automatic driving service in the Chinese market to meet demands of users. AutoNavi will provide a high-precision positioning technology for the future automatic driving project of the two parties.
2. Hisense's Net Profit Down 47.39% In First Three Quarters Of 2017
China's TV maker Hisense recently published its financial report for the third quarter of 2017 and showed profitability has gone down.
From January to September 2017, the company's operating revenue was CNY23.746 billion, a year-on-year increase of 7.57%. Its net profit attributable to shareholders was CNY600 million, a year-on-year decrease of 47.39%; and its earning per share was CNY0.46.
Hisense's operating revenue for audio-visual equipment saw an average decline of 12.24% during the first three quarters of 2017; while its related net profit saw an average decrease of 42.77%.
Commenting on the net profit decline, Hisense's representative said that it was attributed to the increase of material costs. To respond to the net profit decline, the company will make adjustments in the future, but the specific adjustments will be based on the future material price changes.
Hisense specializes in the research, development, manufacturing and sale of televisions, digital television broadcasting equipment, refrigerators, and information network terminal products.
3. Makers of mobile games head abroad
China’s booming mobile games sector is gaining traction in overseas markets, as game developers seek to make massive gains with rising mobile internet usage and demographic advantages, according to a report released by App Annie.
The mobile analytics company said on 30 July that Chinese mobile game publishers saw a significant rise, of more than 40 per cent year-on-year, in overseas revenues from Apple’s iOS App Store and Google Play Store during the first half of 2018, hitting $2.6bn (£2bn).
Gaming app publishers reported 1.5 billion overseas downloads via Google Play and iOS App Store in the first half of this year, compared with 1.1 billion in the same period last year, according to App Annie’s data.
4. China’s tech giants have gone from startup killers to partners
It’s no secret that China’s tech behemoths like Alibaba and Tencent are spending millions in a race to dominate artificial intelligence. Meanwhile, a generation of emerging AI startups are nipping on the giants’ heels with skyrocketing valuations and cutting-edge tech.
This dynamic has put both camps in an awkward relationship as each side covets something valuable in the other.
One of China’s rising AI stars is Rokid, a four-year-old startup last valued at US$450 million. The company is headquartered inside a lush wetland park in Hangzhou – the historic city that Alibaba calls home – and is known for its voice assistant and smart speakers.
Virtually all of China’s tech titans, such as Alibaba, Baidu, Tencent, JD, and Xiaomi, are churning out voice-controlled gadgets. But Rokid thinks it has carved out a niche that lets it thrive alongside its bigger rivals.
While the major players focus on the mass market, Rokid is zeroing in on higher-end speakers that cost as much as US$770.
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5. Seafood, fresh milk, adult merchandise: Visiting Alibaba’s Hema supermarket chain
The shopgirl at the sushi counter at the West Beijing Hema Supermarket looked at me with surprise.“You must download our app to shop here,” she said.
“There is no other means of payment.”
I obeyed, logged in to the store’s complimentary wifi network, and waited for the app to load so I could pay the 68 yuan for my six-piece sushi combination.
The truth is, before you download the Hema app, it is hard to fully comprehend what is so special about this Alibaba-owned and -operated supermarket chain. Prior to downloading the app, I was badgering the sales assistants with questions, such as where the milk is sourced from, not understanding why they looked at me funny.
See, at Hema, there is no need to ask an employee. Each product has a QR code that can be scanned using the app to reveal all the information you could possibly be looking for—from the product origin to reviews, recipes, and other products you could be interested in.
It’s just like Alibaba’s online shopping sites.
New retail
“There is no other means of payment.”
I obeyed, logged in to the store’s complimentary wifi network, and waited for the app to load so I could pay the 68 yuan for my six-piece sushi combination.
The truth is, before you download the Hema app, it is hard to fully comprehend what is so special about this Alibaba-owned and -operated supermarket chain. Prior to downloading the app, I was badgering the sales assistants with questions, such as where the milk is sourced from, not understanding why they looked at me funny.
See, at Hema, there is no need to ask an employee. Each product has a QR code that can be scanned using the app to reveal all the information you could possibly be looking for—from the product origin to reviews, recipes, and other products you could be interested in.
It’s just like Alibaba’s online shopping sites.
New retail
The Hema chain is part of a strategy Alibaba founder and chairman Jack Ma calls “new retail,” the merging of online shopping with the brick-and-mortar shopping experience. China is a global ecommerce leader, but only a small percentage of all commerce in the country takes place online. Most Chinese people still prefer shopping in a physical store.
Hema supermarkets are just one example of the way Alibaba is set to change traditional retail by introducing technology.
In March, Alibaba partnered with Ford to offer the new retail take on car shopping. Guangzhou residents who shop for a Ford vehicle through Alibaba’s online store can pick up their car at an automated carpark, where it is then released without human intervention. Customers can then test-drive the car for three days before deciding whether or not to keep it.
Hema supermarkets are just one example of the way Alibaba is set to change traditional retail by introducing technology.
In March, Alibaba partnered with Ford to offer the new retail take on car shopping. Guangzhou residents who shop for a Ford vehicle through Alibaba’s online store can pick up their car at an automated carpark, where it is then released without human intervention. Customers can then test-drive the car for three days before deciding whether or not to keep it.
Fashion is the next retail category Alibaba is expected to disrupt. In July, Alibaba launched a pop-up fashion store in Hong Kong, in which technology is used to streamline the shopping process. The store is fitted with “smart mirrors,” which clients can use to log in the items they want to try on. The selected items, in the correct color and size, are automatically sent to the fitting rooms. These smart mirrors also present information about the clothing items and suggest complementing pieces.
What makes the chain special?
Shoppers at Alibaba’s supermarket can see and select their produce, seafood, and meat products, and have them delivered to their homes in 30 minutes or less if they live within 3km from the store. These shoppers can also place their orders online and receive quick and free deliveries from their local Hema branch. Some of the Hema locations—70 of which are expected to open across China by the end of the year—even offer deliveries 24/7.
If you look at the ceiling at a Hema Supermarket, you will see one of the chain’s trademarks—a network of metal tracks moving canvas produce bags like a store-wide conveyor belt. These bags contain goods selected by the stores’ employees based on online orders, on their way to be collected by the delivery team.
But efficiency is not the only highlight of this new chain. Hema emphasizes fresh products from all over the world, and its most popular section is seafood. Here, large tanks host seafood and fish species, which shoppers can opt to “catch” themselves.
Once they are done shopping, many Hema customers don’t even wait to arrive home to eat. Urban-dwelling Chinese, especially the young generation, have nearly abandoned home cooking. Instead, they can have Hema’s large team of cooks prepare the produce for them.
In addition to seafood, one can find a wealth of fresh milk, which is traditionally hard to come by in Beijing. Some Hema branches have an adult section, where people can even shop for sex toys and other R-rated merchandise. Fruits and vegetables all come individually wrapped in plastic.
6. Walmart’s $16b takeover of Flipkart gets regulatory nod
Antitrust regulator approves Walmart-Flipkart deal, but issues warning on discounting practices (India). The Competition Commission of India (CCI) has greenlighted Walmart’s US$16 billion takeover of Flipkart despite opposition from local traders over monopoly concerns. The buyout is the world’s biggest ecommerce deal to date and will give Walmart a 77 percent stake in the Indian startup. Flipkart will gain a post-merger valuation of US$21 billion.
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