SHANGHAI, Oct 19 (Reuters) - China’s search market in the third quarter grew 59 percent over the previous year as the country’s leading search engine, Baidu Inc (BIDU.O), continued to eat into Google’s (GOOG.O) market share, a research report said on Tuesday.
China’s search market hit 3.13 billion yuan ($471 million) in revenue in the quarter with Baidu dominating market share with 72.9 percent while Google had 24.6 percent, said technology research firm iResearch.
China is the world’s largest Internet market by users with more than 400 million going online.
Google also said on Tuesday its termination of contracts with seven large Chinese advertising resellers will go into effect on Oct. 27.
The termination of the contracts with the seven AdWords resellers will have a positive impact on Baidu, analysts said. [ID:nTOE69I040] ($1=6.644 Yuan) (Reporting by Melanie Lee; Editing by Jacqueline Wong)