NewsWrap brings you the latest today in Tech News from China and the world at large. Today we look at Groupon’s stocks plummeting, Samsung working with local Indonesian developers, the possibility of Beijing Unicom upgrading broadband speeds, Facebook IPO coming between April and June, and amazing statistics out of India on mobile use and mobile penetration.
Groupon Stock Selling for Half Off
Groupon shares closed today down 9 percent. That is less than off of what it was selling for just after it went public in November. After the hype that surrounded Groupon it hasn’t been able to make much of a positive name for itself.
Samsung Collaborating with Local Developers in Indonesia
According to Daily Social, it was previously Nokia that was trying to work with local developers to broaden their app market. Now, Samsung is trying to jump on this bandwagon. In the Indonesian smartphone market Samsung is second to BlackBerry, but Samsung has realized that they have a limited number of local apps embedded on their devices. Samsung’s research has shown that in some cities outside of Jakarta they dominate the cellphone market in general, which is a strong incentive for developers to consider Samsung Apps.
Beijing Unicom Upgrading Broadband Speeds?
Marbridge Consulting is reporting that Beijing Unicom is planning large upgrades to the broadband speeds at no additional charge. Allegedly raising 2 Mbps connections 8-10 Mbps. According to their source upgrades might occur at the end of this year. In China’s current Five-Year Plan, Beijing Unicom hopes to reach 100 percent FTTH coverage, 100 Mbps access to residential users and 10 Gbps access to corporate users.
Facebook IPO Coming between April and June
Facebook is hoping it will value the company upwards of $100 billion and hope for an initial public offering between April and June 2012. Unfortunately for Facebook they will be riding on the coattails of Groupon’s $805 million IPO, which has plummeted 43 percent in price in the past five trading days as well as LinkedIn who’s stock has fallen 36 percent since it doubled from its IPO price.
India: Almost Half of Google Searches are Mobile
According to Google India managing director, 40 percent of all Google searches in India originate from mobile devices and, according to the Business Standard, 67 percent of e-commerce happens on mobile devices. In comparison to the US (14 percent) and UK (6 percent) the figure on Google searches is astounding. According to other figures cited on The Next Web India’s mobile Internet use is only going to get bigger in the future.