Financial tech startup WeLab raises $220M from investors including Alibaba, the IFC and Credit Suisse

 WeLab, an financial tech startup that operates online lending platforms in Hong Kong and China, has raised $220 million in combined equity and debt financing. The round, which WeLab says is its Series B+, brings its total funding so far to $425 million. Investors include the Alibaba Hong Kong Entrepeneurs Fund, the World Bank’s International Finance Corporation (IFC) and Credit Suisse,… Read More

IDC forecast predicts strong demand for iPhone X in China

 Apple’s return to growth in the saturated China smartphone market was echoed by a report from IDC, out this morning, which attributes the rise in Apple’s market share to the strong sales of the new iPhone 8 and iPhone 8 Plus. Apple’s rebound indicates there’s still pent-up demand for iPhones in China, the report also noted. And it forecast the launch of the iPhone X… Read More

Apple’s revenues in China are growing again

 Apple’s blockbuster Q4 pushed the company’s valuation to $900 billion, but it also saw the firm return to growth in key market China following a challenging past couple of years. Analysts already reported that Apple saw shipment growth in China during the last quarter with a 41 percent increase, but now the company’s latest financial report confirmed that revenue was up, too. Read More

Elon Musk says Tesla’s China factory could begin production in roughly three years

 Tesla last week officially confirmed its plans to set up a manufacturing facility in China, and now we know a bit more about what it’s planning to do in terms of production. At the time, Tesla wouldn’t say much more beyond than it’s “committed to the Chinese market” and interested in exploring manufacturing facilities around the world. Tesla CEO Elon Musk went into… Read More

iPhone 8 launch propels Apple to growth in China after 18 months of sales dips

 Apple is finally back to growth in China. The company has broken a run of sales decreases that stretches back six quarters thanks to promising early signs for the newly released iPhone 8, according to a new report from Canalys. The analyst firm recorded 40 percent annual growth for Apple in Q3 2017 with 11 million shipments during the three-month period. It noted also that the iPhone 8… Read More

Chinese social media giant Weibo is raising $700M to fund acquisitions

 Weibo, the Twitter-like Chinese social network that is profitable unlike Twitter, is raising $700 million as it looks for acquisitions to continue the rocket ship growth its business has seen in 2017. The Beijing-based company, which is listed on the NASDAQ with a current market cap of $21 billion, announced today it will offer up to $700 million in convertible senior notes in order to… Read More

Tesla reportedly made deal to open a manufacturing facility in Shanghai

 Tesla has reportedly made a deal with the government in Shanghai to open up a manufacturing facility in the city’s trade-free zone, the Wall Street Journal reports. Foreign car-makers traditionally partner with local manufacturers, but that will reportedly not be the case with Tesla. Instead, Tesla will own the entire factory. That means Tesla will be able to cut some costs of production… Read More

WeChat begins censoring users ahead of China’s National Party Congress

 Expect to see plenty of censorship news coming out of China over the next week. The country’s National Congress is a hugely influential political summit that takes place every five years and includes the selection of central party leadership. It is also a time when Chinese censors are on high alert, particularly when it comes to online media. The next summit, the 19th, takes place on… Read More

iOS and Samsung market share now tied in the US

 iOS and Samsung’s U.S. market share is now tied, following growth for Apple’s smartphone OS over the three months ending in August, based on new data from Kantar Wordpanel, which tracks smartphone market share by way of sales data. According to its analysis, iOS is up 3.7 percentage points year-over-year, to achieve 35 percent market share, while Samsung only grew 0.8 points,… Read More