Can Xiaomi take on the iPhone in China CNBC International
We're talking about a brand that sold what 26 million handsets in the first half of this year putting them on a par with the likes of LG and Lenovo right now we're looking at a pretty potent force in China aren't we For the Chinese market certainly and the main reason why I think Xiaomi is particularly interesting is not just because they sold a lot of units is because if you actually look at what people do with their devices if you look at things like content consumption and media consumption.
People are actually using their devices to the same degree that people are using the iPhone in China and that really means that in terms of cracking the Chinese market Xiaomi is starting to move really in the right direction So basically this is that they get the strategy of management right now and its content driven they understand the need for ecosystem in the same way that Apple does Yeah exactly, I mean, this is the whole problem if you look at Android devices in general an Android's got something like seventy percent market share of the total smartphone market and if you.
Take out Samsung everybody else is sorta struggling along with commodity like margins now it's long been my view that in order to get round that problem and try add some value back to the user you need to do much more in the ecosystem you need to do more content services email chat all that kind of stuff and that if you look at where Xiaomi is going and where Apple went with the iPhone in 2007 Xiaomi going exactly the same direction in China so from the Chinese part of the market if they can really create user.
Traction to their product then they should be able to make some money and I suspect at the moment that probably losing quite a lot That's an interesting point they're great at media consumption as you just pointed out but are they capable of diversifying into other digital segments and taking on the likes of tencent of alibaba in the market too Yeah that's the real trick is in it I mean they've got the content they got the media but that's actually the easier part of the ecosystem and if they want to broaden out and.
Offer a much richer and deeper experience to the user they are going to have to take on the likes of biting tencent Alibaba and all these guys are also try to develop their own ecosystems in the Chinese market now when I've looked at the Chinese market you know overall I reckon it's probably big enough for three large ecosystems to exist on its own which means at the moment Xiaomi's got momentum companies got opportunity but now it's really gonna have to step up to compete with the really big guys.
President Park meets APEC business leaders APEC
Ahead of todays APEC summit in the Philippines President Park Geunhye had the opportunity to meet with business leaders from 21 participating nations at the annual APEC Business Advisory Council dialogue. Our Hwang Sunghee. who is traveling with the president. files this report from Manila. President Park met with the APEC Business Advisory Council the private sectors voice in APEC. The ABAC is made up of two or three business leaders from each APEC economy and the meeting has been held every year since 1996 on the sidelines of the annual summit. The council presents their policy recommendations.
To the leaders ahead of the APEC summit. At Wednesdays talks President Park said fostering the service industry is key to the growth of the AsiaPacific region. President Park stressed the importance of the fostering of the service industry for the growth of the AsiaPacific region and the creation of jobs for youth and women. and proposed regulatory reform as a key agenda for the improvement of the service industry. She said that since the service industry accounts for twothirds of the regions GDP it is an effective way to create more jobs. President Park shared Koreas drive for.
Regulatory reform in promising service sectors like tourism and education. On the topic of sustainable development President Park said Korea takes tackling climate change as an opportunity for creating future growth engines. She referred to South Koreas selfsufficient island project in Peru. that aims to provide electricity to fruit processing plants with solar power generators and energy storage systems. All this comes just a day before Thursdays APEC summit. This year 21 world leaders will put their heads together for ways to build inclusive economies. and will release a joint declaration following the summit.
Police Missing teen, suspect had previous contact
THOSE TEXAS LICENSE PLATES AND ALSO LOOK FOR THAT BLACK F1 50, A 2013, A NEWER MODEL. YOU HAVE BEEN IN TOUCH WITH HANNAH'S MOTHER, AMY. RIGHT. SHE IS WITH POLICE RIGHT NOW AND IS NOT ABLE TO GET A PHONE CALL OUT RIGHT NOW BECAUSE IT IS A FLUID SITUATION THEY ARE DEALING WITH. THEY HAVE BEEN ABLE TO LINK THE SUSPECT TO HAVING A PREVIOUS CONVERSATION WITH HANNAH. THEY BELIEVE THEY DON'T BELIEVE HE IS IN THE STATE ANYMORE. THEY THINK YOU MIGHT BE GOING TO TEXAS AT THIS TIME.
THIS AMBER ALERT, MORE THAN 24 HOURS AFTER HANNAH HAD INITIALLY GONE MISSING BETWEEN THE HOURS OF 800 ON SUNDAY MORNING AND 1015 ON SUNDAY MORNING. THEY WAITED TO ISSUE THE ALERT BECAUSE THEY DID NOT HAVE A SUSPECT DESCRIPTION BEFORE HAND. SO THEY WAITED TO ISSUE IT UNTIL THIS AFTERNOON. THEY BELIEVE SHE IS WITH THE SUSPECT IT MIGHT BE HEADING SOMEWHERE TOWARD THE TEXAS AREA. DOES THE MOM KNOW THE SUSPECT I'M NOT SURE THAT IS SOMETHING HE WOULD SHARE WITH ME ON THE PHONE. HE DID NOT SAY HOW.
TO BE CLEAR, THIS IS HANNAH, THE 13YEAROLD SUSPECT AND THE 13 EURO AND THE SUSPECT HAD HAD CONTACT BEFORE. WHEN I TALKED WITH THE MOM THIS MORNING, OBVIOUSLY VERY DISTRAUGHT, HAVING NO IDEA WHAT HAPPENED TO HER 13YEAROLD DAUGHTER. HANNAH SUE JUST TURNED 13 JUST A FEW WEEKS AGO. SO NOW THE MOTHER IS OBVIOUSLY TRYING TO FIGURE OUT WHAT HAPPENED. WHEN I TALKED TO HER THIS MORNING SHE WAS AT A LOSS. SHE HAD NO IDEA WHAT COULD HAVE POSSIBLY HAPPENED TO HER DAUGHTER. NOW THAT WE HAVE THE SUSPECT.
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Bill Gross 2 Reasons Companies Can Fail
On the first part of your question on some lessons from a failure, it's almost always a team or running out of money. Team issues, when the team doesn't get along or doesn't have all the skills or team spending too fast and doesn't conserve cash. The first one is probably the harder one because finding great people that have all the skills is always hard. The second one should be easy. But sometimes people are often so worried, and this was one of the excesses of the dotcom crash, about,.
Government to foster small midsized companies as exporters
The trade ministry. in the meantime. has announced its plans to help locallyoriented small and midsized companies go global. The ministry will help them find overseas clients. Here's our Song Jisun with more. If things pan out as the government hopes, some 10thousand small and midsized companies will find new buyers overseas to more than double their sales in the next three years. That, ministry officials say, will likely more than triple the number of workers employed by these companies. They cited a report by the Korea International Trade Association, saying job growth at exporting companies is four times higher than those.
Relying solely on the domestic market. The trade ministry will designate scores of trading houses to help match the companies with foreign buyers.and develop a program to dispatch retired trading experts to help them utilize new export channels. The government will also take steps to make online commerce more profitable for them by streamlining online documentation procedures by the end of August. In addition, the government will set aside additional 1point6 billion U.S. dollars in soft loans to help these new exporters link up with overseas customers and provide better insurance arrangements to protect them from currency fluctuations.
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