On Monday, telecom equipment maker Coolpad and Tencent's cloud arm signed a strategic cooperation agreement. The two sides will set up a joint laboratory to conduct in-depth research into operating systems, and more.
Domestic mobile phone brand Coolpad recently announced a change up of its management team. The company said that Li Yujing, former head of Redmi, will become the group's vice president.
The Hong Kong Stock Exchange on Tuesday publicly censured Chinese business tycoon Jia Yueting, two former CEOs named Jiang Chao and Liu Jiangfeng, as well as three ex-directors of domestic smartphone maker Coolpad Group.
An army of Chinese brands led by Xiaomi has come to dominate the domestic smartphone market. SONY, Samsung, Blackberry and a large number of overseas brands have become its victims. Foreign media reported that Samsung’s smartphone market share in China fell to 2 percent in Q3, putting it in ninth place.