NetEase, one of the big Chinese Net portal players, reported a sharp rise in Q2 profit on a boom in its core online gaming business. But its wireless services continued to face intense competition, causing revenue from that part of the business to decrease slightly to $2.4 million in Q2. Such revenue, once one of the company’s most important streams, now accounts for just 5 percent of the total. “This decrease was mainly due to … intense competition and the overall decrease in popularity of such services in the wireless market in China,” the company said in a statement. The company, like competitors, has been hit by Chinese govt crackdown on mobile spam.
More details here in release…
Subscriber content
?
Subscriber content comes from Gigaom Research, bridging the gap between breaking news and long-tail research. Visit any of our reports to learn more and subscribe.
Advertisement
Advertisement
Advertisement
Comments have been disabled for this post