NewsWrap brings you the latest today in Tech News from China and the world at large. Today we look at the world’s fastest internet speeds, the growing number of Asian mobile users, Yeahka’s mobile payment solution, VANCL’s IPO prospectus, and massive statistics on China’s mobile sector.
South Korea Maintains its Impressive Lead in Internet Speed
Asia has a diverse range of Internet speeds, from the fastest to some of the slowest. Only three Asian nations are in the Top 10, South Korea who comes in first with 2,202 KBps. Japan is next in sixth position at 1,364KBps and finally Hong Kong in tenth position at 992 KBps.
Interestingly, Eastern European countries, with Romania and Bulgaria coming in second and third for fastest speeds, dominated the rest of the list.
What this suggests though is that internet speed is not a huge factor in the growth of start-ups since Singapore (335KBps), India (184KBps) and Indonesia (129KBps) all have fairly strong start-up sectors but some of the slowest speeds.
Asian Mobile Users to Reach 4.2B in 2016
Research Company Ovum predicts that Asian mobile phone connections will reach 4.2 billion users in 2016 making up 72 percent of connection in the Asia-Pacific and 38 percent of the global total. “The global mobile market will experience sustained growth in connections across all regions, but Asia, Africa and the US will be the main drivers and between them will add billions of connections by 2016,” said the author of the report.
Yeahka, First Square-like Mobile Payment Solution Launched to Public
After two earlier Square-like mobile payment solutions, that still haven’t launched, China finally has its mobile payment option. Yeahka, developed by a company based in Shenzhen, has launched a card reader that looks exactly like square. It’s available for both Android and iOS though it only supports Industrial and Commercial Bank of China and Construction Bank of China. More banks will be supported in the future.
VANCL Filing Prospectus Aiming for Q4 IPO
Online-only apparel site VANCL is allegedly filing its IPO prospectus next month in hopes of raising between $750 million and $1 billion (USD). The Beijing-based company was allegedly downsizing five percent of its staff, in a move, some analysts say, to prepare for an IPO through cost reduction and boosting the balance sheet.
Mind blowing Stats of China’s Mobile Sector
NetEase Tech released a great infographic today outlining the mobile communications market in China. It’s a little busy but Tech Rice does an excellent job breaking it down the information into four parts: service providers, mobile population, smartphone market and manufacturers.