China Tech News — Chinese Internet security company Qihoo 360 has signed a strategic cooperation framework with Guohua, a subsidiary of Sinopharm Group, to establish a medical e-commerce joint venture. With the cooperation, the two parties will create an online pharmaceutical sales platform to solve the difficulties and high-price issue in the medical care sector for medical distribution.
Chinese Internet security provider Qihoo 360 announced the establishment of a new enterprise security group. Qi Xiangdong, president of Qihoo 360, will be chief executive officer of this new enterprise security group. Financial details, including capitalization structure for the technology business, were not made available by the company. Using the research resources of Qihoo 360’s mobile security research institute, network security research institute, network attack and defense lab, and vulnerability Research Lab, the enterprise security group aims to provide security solutions and services to enterprise users throughout China.
As the Apple Watch is fueling business opportunities for smart wearable devices, the wearables market in China is estimated to surge from 2.2 billion yuan (US$355 million) in 2014 to 13.6 billion yuan (US$2.2 billion) in 2015 and 23 billion yuan (US$3.7 billion) in 2016. To win a slice of this prospective market, many listed Chinese tech companies are actively proceeding with their products, our sister paper Want Daily reports. Among them are Xiaomi, ZTE, Huawei, Qihoo 360, and Baidu, all of which have kicked off investments in the burgeoning industry to cash in on the potentially lucrative market for smart wearable devices.
On May 6, Xiaomi introduced its new Note smartphones, while at the same time Qihoo 360 announced it was returning to the smartphone market, Guangzhou-based 21st Century Business Herald reports. Xiaomi’s Note smartphones will hit the shelves May 12 with a price of 2,999 yuan (US$485), Xiaomi chairman Lei Jun said, dismissing earlier market speculation of a 3,299 yuan (US$530) pricetag. Lei said that making the price so cheap was no easy task as now it’s very difficult for Xiaomi to make profits from it.
Chinese anti-virus developer Tencent will lose its certifications after it was found to have submitted products with optimisations designed to improve their ratings in independent third-party testing. Tencent is the second Chinese security vendor to be caught cheating recently. Last week, rival anti-virus developer Qihoo 360 was stripped of its awards after it was found to have submitted products for testing with its default detection engine disabled, instead using BitDefender for improved results.
The largest security vendor in China, Qihoo 360, is set to lose all its current certifications after being caught cheating in independent anti-virus lab tests, by submitting products that differed from what it makes available to users. The deception came to light after investigations by AV-Comparatives, AV-TEST and Virus Bulletin found that Qihoo 360 submitted products for testing with the Chinese company’s own QVM detection engine disabled.
A mobile operating system (OS) is likely to be the first product launched under the partnership of online security firm Qihoo 360 and handset maker Coolpad, the Shanghai’s China Business News reports. Coolpad executive vice president Li Wang told reporters Thursday that his company and Qihoo 360 have assembled their top talent to develop new handsets and that their 360 OS will be unveiled soon.
When it comes to China’s tech companies, few are more aggressive – at least in terms of public relations – than Qihoo 360. We’ve known for a while that the company is planning to enter China’s smartphone market following its US$400 million investment into a smartphone joint venture with Coolpad. But yesterday the company put up a new site for its phone that also reveals more about the company’s hopes for its mobile OS.
Since its massive US$400 million investment into a smartphone joint venture with Coolpad last year, it has been clear that Qihoo 360 really wants into China’s lucrative smartphone handset market. The few details it has shared about its next foray into that market haven’t looked promising – especially the US$800 price point. But at an industry forum in China yesterday, Qihoo CEO Zhou Hongyi spoke to Sina Tech about why he thinks his new phone will have a chance in China.
Since its massive investment into Coolpad late last year, it has been clear: Qihoo is planning to get back into the smartphone game. And with US$400 million behind the venture, this could just be the phone that finally succeeds where the company’s previous handset efforts have failed. But after reading about Qihoo CEO Zhou Hongyi’s remarks at a company Spring Festival celebration, I have to admit I’m much less optimistic than I was about the upcoming handset’s prospects.
Qihoo 360 has invested USD409.05 million to create a joint venture with Coolpad. The joint venture, which is 45% owned by Qihoo 360, will be responsible for the design, manufacturing, and sales of mobile terminal products such as mobile phones. Taking the Internet as its major sales channel, the joint venture will use Coolpad’s experience in smartphone design, manufacturing, supply chain management, and post-sales services as well as Qihoo 360’s mobile application development and online marketing capacities.
Researchers at Palo Alto Networks have released a new report which says that many of the phones manufactured by Chinese handset maker Coolpad are being shipped with a serious security flaw. According to the report, most of the Coolpad phones researchers tested contained a backdoor (they call it “CoolReaper”) that allowed the phone’s software to autonomously do things like:
While it may have been overshadowed in the global press by Baidu’s high-profile investment in Uber, make no mistake: Qihoo’s US$400 million partnership with Coolpad earlier this week is a big deal. Qihoo CEO Zhou Hongyi has been interested in getting into the mobile market for years. Qihoo experimented with mobile partnerships repeatedly in 2012, releasing three separate phones with manufacturing partners including Haier and Huawei, but none did particularly well. This week’s investment is a much stronger push, though: