Key Developments For Baidu, Inc.
Baidu, Inc. (BIDU.O) (Nasdaq)
Baidu.com, Inc. Issues Q4 2009 Revenue Outlook Below Analysts' Estimates
Baidu.com, Inc. announced that for the fourth quarter of 2009, it expects to generate total revenues in an amount ranging from RMB1.190 billion ($174 million) to RMB1.230 billion ($180 million). According to Reuters Estimates, analysts on an average were expecting the Company to report revenue $202 million for the same period.
Baidu.com, Inc. Announces Strategic Partnership With China Unicom (Hong Kong) Limited
Baidu.com, Inc. announced it has entered into a strategic partnership with China Unicom (Hong Kong) Limited to provide wireless search for China Unicom's 3G mobile subscribers. Under the agreement, Baidu's wireless search service will be embedded in China Unicom's 3G mobile phone modules. China Unicom's mobile subscribers will be able to use preinstalled applications to access Baidu products including web search, Baidu Knows, Baidu Post Bar, image search, news search, MP3 search and other useful services. Baidu will also provide search functions within China Unicom's wireless Internet sites to service the carrier's users.
Baidu.com, Inc. Issues Q3 2009 Revenue Outlook Above Analysts' Estimates
Baidu.com, Inc. announced that for the third quarter of 2009, it expects to generate total revenues in an amount ranging from RMB 1.260 billion ($184 million) to RMB 1.290 billion ($189 million). According to Reuters Estimates, analysts on an average were expecting the Company to report revenue of $179 million for the same period.
Amaru Inc.'s M2B Enters China Market In Strategic Agreement With Baidu.com, Inc.
Amaru Inc. announced that its subsidiary, M2B World Asia Pacific Pte Ltd (M2B) has entered into a strategic agreement with Beijing Baidu Netcom Science and Technology, a wholly owned subsidiary of Baidu.com, Inc. This partnership with Baidu.com, Inc. involves M2B making available a WOWtv site customized for China and streaming free and legal video content from M2B's infrastructure. Baidu, in turn, will drive internet traffic to the Chinese WOWtv site upon its launch. This partnership will enable M2B to expand its worldwide viewership and generate additional advertising revenue by tapping into the fast growing online video and advertising markets in China. M2B will offer Baidu.com's search engine users a range of free and legal online movies, TV series and variety shows via video-on-demand streaming on the Chinese version of WOWtv. Users can look forward to watching WOWtv's programs like travel series Estelle's Paradise, fashion videos from Video Fashion Network, Thai movies and Chinese short films. All the content on the Chinese language site will be made available with Mandarin subtitles.
Hundreds of Baidu.com, Inc. Employees Strike Over Pay-DJ
Dow Jones reported that executives of Baidu.com, Inc held talks over the weekend with striking workers who say they are angry over salary cuts and new sales commission policies they believe are designed to force them out of their jobs. Hundreds of Baidu, Inc. employees in southern China have either stayed home or gone to the office and refused to work since May 4. The industrial action burst into the open on Friday, when several hundred employees of the Shenzhen office marched to their local labor bureau to file a complaint against the Company, according to strikers and officials in the labor bureau.
