Baidu Plays The App Store Game

摘要

Internet search provider Baidu has agreed to buy online gamesnportal 91 Wireless Websoft for approximately US$1.9bn. Thencompany is keen to defend its core search business from increasedncompetition and, to do that, it must diversify into new areas ofnactivity, including social networking and online gaming. In BMI'snview, the move reflects the fact that rising smartphone penetration,nplus the wide availability of mobile broadband networ ks provide significant revenue-earning opportunities for companies willing tontake a diversified approach to investing in China's online valueaddednservices sector.