BLOOMBERG, REUTERS

Worldcrunch

BEIJING – China’s top search engine Baidu is planning to buy the app store 91 Wireless for $1.9 billion in order to gain a bigger share in the very competitive mobile sector, Reuters reports.

After the acquisition, Baidu will hold 57.4% of the shares of one of China’s earliest app stores, taking control from NetDragon Websoft Inc.

“It is good for Baidu because if you look at mobile, currently apps are more popular than mobile sites because Internet download speeds are slow. So with the acquisition of this apps store, Baidu can work more closely with the apps developer and be able to enhance further their search capabilities”, Elinor Leung, an analyst in Hong Kong, told Reuters.

According to Bloomberg, this deal puts China’s most popular third-Party appstore for smartphones in a market where hundreds of companies offer mobile softwares. In the US, Apple Inc. and Google Inc. dominate the sales of content using their very own operating systems.

As of March 31st Baidu accounted for 82% of computer searches in China, while its mobile app had only 9% of the 1.16 billion wireless subscribers.

You've reached your monthly limit of free articles.
To read the full article, please subscribe.
Get unlimited access. Support Worldcrunch's unique mission:
  • Exclusive coverage from the world's top sources, in English for the first time.
  • Stories from the best international journalists.
  • Insights from the widest range of perspectives, languages and countries
Already a subscriber? Log in
Keep up with the world. Break out of the bubble.
Sign up to our expressly international daily newsletter!
Geopolitics

The New Iraq, Signs Of Hope Amid The Rubble And Reconstruction

How do you rebuild a country decimated by four decades of war and embargoes? Following the withdrawal of the U.S. military, Iraq faces many challenges, from oil revenues captured by the militias and endemic corruption to religious segregation. However, there are glimmers of hope for the country's future.

Street scene in Erbil, Iraq

Théophile Simon

BAGHDAD — With a vast office located at the top of a tower fiercely guarded by the army and a bell to call the staff, Khalid Hamza Abbas is obviously a powerful character, decked out in an impeccable suit. Abbas runs the Basra Oil Company (BOC), the national company responsible for the exploitation of the oil fields in the province of Basra, in the very south of Iraq, from which four million barrels of crude oil flow daily. It’s the equivalent of 4% of world demand and 65% of central government revenue concentrated in a region of only four million inhabitants.

As he explains the profit-sharing scheme between the world’s major oil companies and his public enterprise, the 50-year-old with thin glasses is suddenly stopped dead in his tracks by the ringing of his telephone. He tries a joke to mask his suddenly worried face: "I'm going to ask you to leave my office for a few moments. If I haven't called you back in 10 minutes, call the police."

Keep reading... Show less
Keep up with the world. Break out of the bubble.
Sign up to our expressly international daily newsletter!
You've reached your monthly limit of free articles.
To read the full article, please subscribe.
Get unlimited access. Support Worldcrunch's unique mission:
  • Exclusive coverage from the world's top sources, in English for the first time.
  • Stories from the best international journalists.
  • Insights from the widest range of perspectives, languages and countries
Already a subscriber? Log in
THE LATEST
FOCUS
TRENDING TOPICS
MOST READ