Newsletter: HTC Plans to Lay Off One Quarter of Its Global Workforce

3 min read 

Here’s this week’s roundup of China tech stories.

Ten years ago, if you were to walk across the shopping arcades of Zhongguancun, the electronics hub in Beijing, you would find a swath of products that were clones of western gadgets. Things have changed and now, places like Zhongguancun have become innovation hubs flooded with advanced computing start-ups. Enjoy reading an insightful piece by Indian scholar Ravish Bhatia about how he perceives the evolution of China’s innovation system.

After going viral since two months ago, China’s popular variety show Producer 101 ended its final episode. The show on Tencent’s video platform, a spinoff of its South Korean version, have caused a huge stir in China.

As for tech firms, NIO, the Chinese EV startup is ready to prove to consumers its manufacturing capacity while HTC is laying off a quarter of its global workforce. Let’s see the details!

Editor’s Pick

Source: studyinchina.com

All Wheels in One Direction: China’s Unique System for Innovation

Produce 101 Begins a Wave of Interest in Chinese Idol Groups

Is Lenovo Z5 the Best Phone to Buy With $200?
Earlier this month, Lenovo unveiled its latest flagship phone – the Lenovo Z5. Here’s an exclusive review by Chloe from Pandaily!

Market Briefings

In the first half of 2018, eight live-streaming platforms in China raised about 10 billion yuan (US$11.6 billion). Among them, leading platforms HUYA Inc. and Douyu TV account for nearly 70 percent of the total.

Taiwanese mobile manufacturer HTC plans to lay off 1,500 people as part of a strategic restructuring in Taiwan.

Electric car startup NIO announced the official delivery of its second batch of ES8, which was the first time the company has delivered vehicles to consumers in the market.

Wise Talent Information Technology, the parent company of Chinese executive headhunting platform Liepin.com, became the first tech company providing human resource solutions listed at Hong Kong Stock Exchange.

Uxin Limited, China’s used auto e-commerce platform became publicly listed under the symbol “UXIN” on the Nasdaq Stock Market at $9 per share.

Pinduoduo, one of China’s largest e-commerce unicorns, looks to raise around US$1 billion in its U.S. IPO.

With over 520 million monthly active users and an accumulated user base of over 900 million in over 223 countries and regions,WiFi Master Key is perhaps the only platform with numbers that can compete with Tencent’s WeChat and QQ in China.

New Openings

Foxconn, the Taiwan-headquartered electronics manufacturer, opened a new manufacturing facility in Wisconsin, U.S. Trump said the company has discovered that

    there is no better place to build, hire and grow than right here in the United States.

Alibaba Group announced the establishment of Luohan Academy in Hangzhou, an open research platform with Nobel Laureates and leading social scientists.

On June 27, the Shanghai edition of the world’s largest mobile industry exhibition, GSMA Mobile World Congress, opens doors at the Shanghai New International Expo Centre.

New Gadgets

Users of the new Vivo NEX smartphone recently reported to unauthorized camera movements when they try to visit certain web pages with the mobile QQ browser app.

The gorgeous Red Edition of OnePlus 6 is released at $684.

The new OPPO Find X flagship smartphone is perhaps the only phone deserving of the descriptor “full screen”.

Meitu launched its new phone Meitu T9 Beauty Smartphone and a Summer Palace limited edition.

Podcast 

This week, TechBuzz China’s very own Ying-Ying Lu and Rui Ma, along with guest co-host Joyce Yang, talk all about cryptocurrency – more specifically, the biggest crypto company in the world, Bitmain.

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