Pandaily's Digest #20211020
Chinese short video platform Kuaishou adjusts its overseas strategy, Xiaomi boss Lei Jun says mass production of vehicles to begin in early 2024, Alibaba unveils self-developed chip model, and more.
TikTok Rival Kuaishou Reported to Integrate Overseas Business: Kwai to be Only International Version
Chinese media outlet LatePost reported on Tuesday that Kuaishou Technology, developer of the world-famous short-video sharing mobile app Kuaishou, has recently made a major adjustment to its overseas business. The core idea is to merge its three products into one and improve their overall efficiency.
Xiaomi CEO Lei Jun: Vehicles to Begin Mass Production in First Half of 2024
Lei Jun, Founder and CEO of consumer electronics and smart manufacturing company Xiaomi, announced at the company’s annual Investor Day on Tuesday that the progress of the firm’s car-building efforts has far exceeded his expectations. He added the prediction that Xiaomi Auto will be officially mass-produced in the first half of 2024.
Following Amazon and Huawei, Alibaba Releases Self-Developed 5nm ARM Server Chip “Yitian 710”
Chinese internet giant Alibaba has unveiled its first server chip based on ARM architecture at the Apsara Conference on October 19, marking the attempt of another major company to challenge Intel’s architecture, joining Amazon and Huawei.
Geely’s Smartphone Factory to be Situated in Wuhan, R&D Center in Shanghai
The IT Times reported on Monday that Geely has set up a mobile phone research and development center in Shanghai and will build its own factory in Wuhan, Hubei Province. At present, the multinational auto firm is recruiting talent for the future Wuhan factory, based on public information available through online recruitment platforms.
Evergrande Considering Sale of Swedish EV Unit
NEVS, a Swedish electric vehicle (EV) unit under China Evergrande Group, is negotiating with U.S. and European venture capital companies and industrial partners to find a new owner, Reuters reported on October 15. The firm’s top executive said this is due to the deep debt of more than $300 billion its Chinese parent company is now burdened with.
Douyin and Kuaishou Fined $31,110 for Promoting Overconsumption
According to Qichacha, Beijing Kuaishou Technology Co., Ltd., and Beijing Microlive Vision Technology Co., Ltd., an affiliated company of Douyin, were fined 200,000 yuan ($31,110) for violating Chinese advertising laws. The penalty dolled out to the companies was given by the Beijing Haidian Administration for Market Regulation.
Omdia: China, US and South Korea Rank Top Three in Global E-Sports Market
According to market survey results recently released by analysis and consultancy firm Omdia, the e-sports market with the highest income in the world has changed from the U.S. to China in the past five years.
Baidu Apollo and WM Motor Launch Two New Cars, Achieving Mass Production of Assisted Navigation Model
Baidu Apollo, an open-source autonomous vehicle technology platform, and WM Motor, a new energy vehicle manufacturer, officially released two new cars on Tuesday, both of which are based on the WM Motor W6 SUV.
OPPO to Develop Smartphone Chips Using TSMC’s 3nm Process
Nikkei Asia reported on Wednesday that Guangdong-based smartphone maker OPPO is developing high-end mobile chips for its upmarket phones. This is to gain control of chip components and become less dependent on semiconductor suppliers such as Qualcomm and MediaTek.
CAICT: Shipment of Mobile Phones in Chinese Market Reaches 21.44 Million Units in September
CAICT, a think tank under the Ministry of Industry and Information Technology, released a report on Tuesday regarding the domestic mobile phone market. In the month of September, the shipment of mobile phones in the Chinese market reached 21.44 million units, down 8.1% year-on-year, among which were 15.118 million 5G mobile phones, up 8.1% year-on-year, accounting for 70.5% of the mobile phone shipments in the same period.