Xiaomi announced its decision on Tuesday to postpone its listing process in mainland China while proceeding with original plans in Hong Kong.
On June 18, JD.com announced a strategic investment of $550 million from Google and an establishment of a broad strategic partnership between both parties.
As the clock strikes past midnight, JD.com saw a record-breaking transaction volume of 127.5 billion yuan ($20 billion) for the 618 Mid-Year Shopping Festival that took place officially on June 18. The entire record was for the period between June 1 at 00:00 a.m. and June 18 at 00:10 a.m.
Meitu launched a co-branded phone in partnership with Italian luxury sports car maker, Lamborghini, as a poster that read “Authentic Italian Taste – Stay Tuned” appeared on Meitu’s official Weibo account.
Didi Chuxing (“DiDi”) announced that it will be launching DiDi Express on June 25 in Melbourne, after a month of pilot operations in Geelong.
OnePlus has sold out one million of its flagship OnePlus 6 within only 22 days of release. Pete Lau, CEO of OnePlus, expressed his gratitude towards the OnePlus community, “we are touched by the trust that one million people have placed in us and are grateful for the loyalty they have displayed.”
Here is this week’s roundup of technology & innovation stories in China.
The new retail coffee chain Luckin Coffee was rumored to have closed its Series A round at $200 to 300 million with a valuation exceeding $1 billion. The investors of this round has not been disclosed.
During CES Asia 2018, Baidu Apollo showcased its progress in self-driving, Internet of Vehicles (IoV) and automobile safety. Baidu’s autonomous driving platform has initiated collaborations with renowned automobile companies such as BMW and Hyundai Motors, and has also formed a partnership with EV startup Byton for DuerOS.
Earlier this month, Tencent sued Bytedance, better known as Toutiao, for 1 RMB and Toutiao fought back by suing Tencent for 90 million RMB. What sparked the feud between the David and Goliath of the Chinese tech world? Listen to this week’s episode of TechBuzz China by Pandaily to find out!