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Every week, our analysts review dozens of news sources, from multiple countries, in multiple languages. From this, we give you the stories that are most important, and the analysis to tell you why.
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An interesting article in Business Week discusses how South Korea transformed from a nation of savers to a nation of spenders, with 5 credit cards per capita according to the Bank of Korea. Savings dropped to 3.4% and the country spends heavily on credit cards now. China has very low credit card usage but with the surge in consumerism, there may be an increase in such usage in the near term.
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Single's Day in China Sets E-Commerce Records
Single's Day used to be the chagrin of Chinese adults who are still single, though the identification of November 11th as the day for singles is because it is 1 1 1 1 (all ones). Recently the day has turned into a shopping craze with promotions and chaos. As noted in the NY Times, Alibaba, China's largest e-commerce company, processed $5.75 billion on Monday - the largest single day record on earth. In the first hour of the day 24% of the orders on TMall and other Alibaba e-commerce sites were initiated from smartphones. Xiaomi, the low-cost, high-profile smartphone company, sold more than 200,000 smartphones in less than 3 minutes according to a news item cited by Tech in Asia. The Chinese are embracing consumerism like never before.
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Top Smartphone Brands in China
According to the latest Canalys report, Samsung shipped 21% of the 100 million smartphones purchased in China in Q3, maintaining its #1 position in the market. Apple is #5. Lenovo, Coolpad and Huawei took positions #2, 3 and 4, and are all Chinese companies.
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ABOUT NIKO
Niko News is just one part of the strategy and expertise offered by Niko Partners to help our clients better understand and successfully navigate the thriving games markets of China and Southeast Asia.
Niko Partners is the leading provider of market intelligence, custom research, and consulting services focused on the games industries in China and Southeast Asia. Since 2003 we have provided critical information to the world's leading game publishers, developers, hardware makers, and game service providers as well as to government policymakers, trade associations, and institutional investors.
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