October 26, 2011 / 4:21 AM / 8 years ago

China's online search market rises 77.8 pct in Q3

SHANGHAI, Oct 26 (Reuters) - China’s online search market grew 77.8 percent in the third quarter to 5.51 billion yuan ($866.3 million), according to a technology consulting firm on Wednesday.

Baidu Inc had a 77.7 percent share of the market, up marginally, while Google Inc lost a percentage point to 18.3 percent, said Beijing-based consultancy iResearch.

Baidu is due to report its third-quarter earnings on Oct. 27 after U.S. market hours.

The number of Internet users in China, 485 million, is greater than the total population of the United States but represents only a 37 percent Internet penetration rate, suggesting massive potential for growth.

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