Tech Roundup: China Smartphone Shipments Hit 10-Year Low, Pokémon-Maker to Probe Hit Game for IP Theft
Student craze sets Ultraman cards-maker on the path to IPO, WM Motor begins restructuring
Customers try out Huawei’s Mate 60 series smartphones on Sept. 11 in Wuhan, Central China’s Hubei province. Photo: VCG
Welcome to the Daily Tech Roundup — a briefing of the top technology news making headlines in China and the rest of Asia.
Smartphone shipments fall to 10-year low in 2023
China’s smartphone market reached a 10-year low in 2023, with a recovery expected soon, according to multiple institutions that released data on the country’s smartphone market for last year.
Pokémon-maker to investigate blockbuster game amid IPR theft claims
The company behind Pokémon said it intended to investigate into the hit video game developed by Japanese studio Pocketpair on whether it infringed on its intellectual property. The console title sold more than 8 million copies from Jan. 20 to Jan. 25.
Student craze for Ultraman cards sets their maker on the path to IPO
A card trading and collecting craze at Chinese elementary schools has helped their maker on course to go public. Zhejiang-based card game company Kayou Inc. filed its prospectus with Hong Kong’s stock exchange to list on its main board. Morgan Stanley, China International Capital Corp. Ltd., and JPMorgan Chase & Co. are listed as the IPO’s sponsors.
WM Motor begins restructuring
Electric-vehicle (EV) maker WM Motor Technology Group Co. Ltd. has officially entered restructuring, a Shanghai court announced Friday, with the first creditors’ meeting planned for March 29. In 2018, Zhejiang Geely Holding Group Co. Ltd. sued WM Motor for infringement on its trade secrets. WM Motor’s business has suffered its share of operational problems since several of its vehicles reportedly caught fire on their own in 2020. It applied to the court for pre-restructuring in October 2023.
CATL and Didi to set up battery-swapping venture for ride-hailing
Contemporary Amperex Technology Co. Ltd. and DiDi Global Inc. signed an agreement Friday to set up a battery-swapping joint venture, the battery-maker announced Sunday. The venture aims to provide battery-swapping services for ride-hailing services that use EVs.