Top China Stories Today

Sneak Peak into Dangdang ereader: A picture rumored to be the concept design of Chinese etailer Dangdang’s ereader showed up online lately. From what we saw (pictured left), the gadget appears to combine the goodies of Kindle and iPad with e-ink screen and sleek outfit. According to Yi Wenfei, VP of the Beijing-based company, the ereader would be made available in the first quarter of this year with a price tag of RMB 499(US$ 79). Would it gain on Dangdang paper book business? Let’s wait and see.

Shanda and Hangwang are two of the largest and most active competitors in the sector while Shanda’s Bambook (also priced at RMB 499) is quite popular among youngster.

photo credit: Tencent Tech

NetQin Names Former Samsung Mobile Chief as Co-CEO: NetQin, the NYSE-listed Chinese mobile solutions provider announced the appointment of Mr. Omar Khan to the position of company Co-Chief Executive Officer.

Mr Khan used to serve as the Managing Director and Global Head of the Mobile Center of Excellence for Citigroup Inc., and prior to that he was the fromer Chief Product and Technology Officer of Samsung Mobile. NetQin also launched its new “NQ Mobile” brand, a move to further develop its international business, the Company’s corporate name will also be changed from NetQin Mobile Inc. to NQ Mobile Inc.

Qihoo 360 Announced $50M Share Buyback: Qihoo 360 Technology announced that its Board of Directors has authorized the buyback of up to US$50 million of the Company’s American Depositary Shares.

UBS Report Says Smartphone Price to Plummet in China: According to a report out lately by UBS, by next year entry level smartphone in China market would be priced between RMB 400 and 500 (US$ 63 and 79), means north of 70% population in China could afford a smartphone and then in 2015 the market saturation would take place.