trending Market Intelligence /marketintelligence/en/news-insights/trending/p-2wkesuupkvbwzfwr2aaw2 content esgSubNav
In This List

Xiaomi to raise $3B from depositary receipts; Sharp eyeing Toshiba's PC business

Podcast

Next in Tech | Episode 50: InfoSec spending up, again…

Blog

Broadcast deal market recap 2021

Podcast

Next in Tech | Episode 49: Carbon reduction in cloud

Blog

Price wars in India: Disney+ Hotstar vs. Amazon Prime Video vs. Netflix


Xiaomi to raise $3B from depositary receipts; Sharp eyeing Toshiba's PC business

TOP NEWS

* Chinese smartphone giant Xiaomi Corp. is planning to raise US$3 billion in Chinese depositary receipts in its upcoming Hong Kong initial public offering, Reuters reports, citing people close to the matter. The Beijing-based company will reportedly sell shares in mainland China and offer the remainder to Hong Kong investors. The CDR portion is likely to account for 30% of its US$10 billion blockbuster IPO.

* Toshiba Corp. is in talks with electronic products-maker Sharp Corp. on the sale of its personal computer business for about ¥5 billion, Japanese media report. An agreement could be reached within a week, The Nikkei said. Sharp would hold 80% of the PC business, known as Toshiba Client Solutions Co., while Toshiba would own a minority stake. Toshiba, however, said nothing has been decided as it is also in talks with other potential buyers and is considering various options for the business, Reuters reports. The potential sale is part of Toshiba's restructuring efforts. The company has reportedly been seeking a buyer for its PC business since 2017.

* Chinese regulators have launched an investigation into foreign memory chipmakers Micron Technology Inc., Samsung Electronics Co. Ltd. and SK Hynix Inc., The Wall Street Journal reports. While the companies confirmed the State Administration for Market Regulation visited their offices in China, they did not disclose what the probe is about, according to the report.

* Meanwhile, Toshiba Memory Corp. president Yasuo Naruke told a press conference that the flash memory firm sold to a consortium led by Bain Capital LP aims to go public in about three years, Kyodo News reports. He also said the former Toshiba unit may change its name next year as it seeks to raise its profile. Bain Capital said it would support Toshiba Memory in pursuing M&A in the chip industry, including "large-scale M&A deals," Reuters reports, citing Yuji Sugimoto, head of Bain Capital in Japan.

JAPAN

* A government deregulation council rejected a proposal to repeal the political fairness clause from Japan's broadcast law, the Japan Times reports. Inclusion of the proposal in a deregulation plan could have given streaming platforms such as Netflix Inc. and Amazon.com Inc.'s Amazon Prime Video greater freedom to compete with conventional broadcasters.

* Japan Broadcasting Corp., or NHK, is giving Chinese tech conglomerate Tencent Holdings Ltd. guidance on creating Japanese-style television programs, The Nikkei reports.

* Sony Corp. is backing Roli Ltd., a manufacturer of digital musical instruments, through its Sony Innovation Fund, which will help Roli expand its sales globally, specifically in Asia, and invest in further research and development, Bloomberg News reports, citing Roli CEO Roland Lamb.

* A draft Japanese growth strategy is setting a goal of putting autonomous vehicles on public roads by 2020, in time for the Tokyo Olympics, Kyodo News reports.

SOUTH KOREA

* Samsung Electronics Co. Ltd. hired two artificial intelligence experts from the U.S. to strengthen its AI research and development capabilities. The experts are H. Sebastian Seung from Princeton University and Daniel Lee from the University of Pennsylvania. Seung will be in charge of developing AI strategies, and Lee will be responsible for the machine learning algorithm and robotics.

* Samsung Group's IT service unit Samsung SDS Co. Ltd. unveiled its digital finance platform, Nexfinance, which utilizes advanced IT technologies including AI, blockchain, big data and intelligent process automation.

CHINA, HONG KONG AND TAIWAN

* Chinese game-streaming platform HUYA Inc. confirmed that it scrapped the games development department as part of restructuring, Sina reports. Livestreaming business took up over 90% of sales of the company. The company now intends to focus on games with high daily average users instead of developing its own gaming products.

* The State Administration of Taxation said the Jiangsu government is lining up different authorities to investigate taxation issues in the television and film industry, following reports claiming that some celebrities sign two different set of contracts for real payment and taxation purposes. Zhejiang Huace Film & TV Co. Ltd., Ciwen Media Group Co. Ltd. and Talent International Media Co. Ltd. issued statements to declare that they have been doing business according to the law.

* Online audio content platform Qingting FM said it is planning to go public in two to three years' time, The Paper reports. COO Xiao Yi said the company is not making any profits yet but will work on expanding its client base.

INDIA AND SOUTH ASIA

* Idea Cellular Ltd. secured the approval of India's Department of Telecommunications on its application to increase the foreign direct investment limit in the company to 100% from 67.5%, as well as indirect FDI in its subsidiaries, namely Aditya Birla Telecom Ltd. and Idea Cellular Infrastructure Services Ltd. The FDI approval is part of the merger process between Vodafone India and Idea Cellular.

* Bharti Airtel Ltd. is in advanced talks with Verizon Communications Inc. for a broad collaboration on the internet of things, a person familiar with the matter told The Economic Times (India). An agreement is reportedly expected to be signed around mid-June.

* Reliance Jio started hiring professionals for an artificial intelligence team under Akash Ambani, son of Reliance Industries Ltd. Chairman Mukesh Ambani, Mint reports, citing two people aware of the development.

* Hungama Digital Media Entertainment is set to launch a fully fledged web series called "Damaged" on June 6, Mint reports. The series will be followed by two dramas and a comedy.

SOUTHEAST ASIA

* Malaysian integrated media company Media Prima Bhd. joined forces with Samsung Group to make its over-the-top service, tonton, available on Samsung Electronics' 2017 to 2018 Smart TV models, according to New Straits Times. The company is also expected to launch collaborations with Panasonic Corp. and LG Corp. at later dates within this year.

* Singapore-based GrabTaxi Holdings Pte. Ltd. partnered with U.S.-based Cargo Systems Inc. for Grab&Go, a service that allows customers to purchase in-car goods during their rides, The Business Times reports.

* JKN Global Media PCL will distribute Thai TV series made by BEC World PCL worldwide, Matichon reports. BEC World will also curate its future content for overseas markets as a result of this deal.

* Six Thai telcos operating under the brands Advanced Info Service PCL, True Corp. and Total Access Communication PCL have expressed their interest in the 1800 MHz spectrum band auction scheduled for Aug. 4, Matichon reports. The bid will start at 37.46 billion baht.

* Thai digital TV operators will meet with the National Broadcasting and Telecommunications Commission on June 7 to discuss measures for lessening their financial burdens from expensive licensing and multiplexer rental fees, Post Today reports.

AUSTRALIA AND NEW ZEALAND

* John Lord, chairman of Huawei Technologies Co. Ltd.'s Australian unit, rejected claims that the company has Chinese government oversight, ZDNet reports. Lord added that barring Huawei from providing 5G equipment to Australia's telcos would have a "huge significance" for the company's business in Australia.

FEATURED NEWS

Next Gen TV: Collaboration key for broadcasting's future: The next generation of broadcast television is on the horizon. But it will be up to station owners and TV set manufacturers to work together to execute a timely transition without leaving any viewers behind.

Data Dispatch: UK, Spain to lead online video revenue growth amid EU push for new OTT rules: The U.K. is projected to lead Western Europe's online video market, with record growth set for Spain, as players such as Netflix, Amazon and HBO race to earn the loyalty of international subscribers amid a push by the EU to implement new OTT rules.

FEATURED RESEARCH

Economics of TV & Film: AMC Networks steadily expanding content offerings: As the pay TV market continues to contract in total subs, networks turn toward programming investment in order to show their value. Total programming costs for AMC Networks more than tripled between 2009 and 2017.

Joji Sakurai, Nicole Shiwon Kim, Emily Lai, Wil Hathaway and Ed Eduard contributed to this report. The Daily Dose has an editorial deadline of 7 a.m. Hong Kong time. Some external links may require a subscription. Links are current as of publication time, and we are not responsible if those links are unavailable later.