Chinese electronics giant Xiaomi Inc. has made an unusual promise that it will limit its net profit margin to 5% for its hardware business, including smartphones, IoT and lifestyle products. The news is significant given Xiaomi is reportedly gearing up for an IPO that some say could value the company up to US$100 billion.
Chinese smartphone maker Xiaomi Inc. surpassed South Korea’s Samsung Group as the top seller of smartphones in India for the first time in the fourth quarter of 2017. During the period, Xiaomi shipped close to 8.2 million units in India, up 170% year-on-year, while Samsung shipped just over 7.3 million units, up 17% year-on-year. Samsung had been the top seller in India for six years. Together, the two companies command more than 50% of the smartphone market in the country, with …
Vion Technology Inc., a Chinese artificial intelligence firm specializing in machine vision, has raised a US$20 million series B round from Samsung Electronics, Swiss automation company ABB, Chinese venture firm Tsing Capital and Hong Kong-based investment firm Waterwood.
Ant Financial and Samsung Group have led a US$40 million series A+ round in Beijing-based artificial intelligence start-up DeePhi Tech.
Hong Kong X Technology Fund, backed by Sequoia Capital China-led Hong Kong X-Tech Start-up Platform, has co-led a US$9.5 million funding round in Efinix, a U.S.-based start-up developing programmable product platforms and technology.
China’s Baidu Inc. has agreed to jointly develop new cloud-based artificial intelligence (AI) solutions aimed at Chinese automakers with Harman International, Samsung’s wholly-owned subsidiary focused on connected technologies for the automotive, consumer and enterprise markets.
Three Chinese mainland subsidiaries of Samsung Electronics Co., Ltd’s were ordered by the Quanzhou Intermediary Court in China’s Southern port city Quanzhou to pay RMB80 million (US$11.6 million) to Huawei Technologies Co. for patent infringement.