Caixin
Caixin Global – Latest China News & Headlines

Home >

ABOUT US

CX Tech is Caixin Global's real-time tech news portal, featuring 24-hour news, short-form analysis, and roundups from business and tech media in China.

LATEST
Singapore-Based E-Commerce Aggregator Una Brands Raises $40 Million for Asia-Pacific Acquisitions
Video Streamer iQiyi Apologizes for Milk Gimmick Gone Sour
Singaporean Ride-Hailing Firm Grab to Launch New Services for Premium Passengers, Pet Owners
TikTok Retains Crown as World’s Top Non-Game App Despite 50% Drop in Downloads
Tencent Reportedly Negotiating Risk-Mitigation Measures to Retain U.S. Gaming Investments
Foxconn to Set Up Chipmaking Joint Venture with Yageo
Excluding Chinese Vendors from Indian 5G Trials Will Hold Back Development, Diplomat Says
Alibaba-Backed MYBank Eyes Deeper Penetration Into Under-Banked Rural China
Vivo and Oppo Claim Top Two Spots in China Smartphone Market as Huawei Falls
U.S. Urges TSMC to Prioritize Supplies to American Carmakers Grappling with Global Chip Shortage
Indonesian Ride-Hailing Unicorn Gojek Aims to Go All Electric by 2030
Tencent-Backed Insurtech Firm Waterdrop Aims to Raise up to $360 Million in U.S. IPO
Which Money-Losing Electric-Car Makers Have Tied Up With Huawei?
Video Platform Bilibili to Buy Stake in Mobile-Game Maker CMGE to Boost Content
Baidu to Roll Out Driverless Robotaxis in Beijing in May
Tesla Challenger Nio Shrinks Losses as Sales Surge
Trending in China: A Beijing Bureaucrat Worked as Delivery Driver for a Day and Earned Just $6
Fjord Focus: Why Are Chinese Electric-Car Makers Flocking to Norway?
Alibaba Has Big Plans for Taobao’s Livestreaming Hawking Business
Xiaomi Extends Reign as India’s Smartphone King Despite Slipping Market Share
Alibaba doubles down on smart speakers with $1.41bn investment

By Nikkei Asian Review / May 21, 2020 11:15 AM / Business & Tech

Photo: VCG

Photo: VCG

Chinese technology conglomerate Alibaba Group Holding announced on Wednesday that it will invest 10 billion yuan ($1.41 billion) in the development of artificial intelligence-enabled smart speakers, a move aimed at cementing its leadership in an emerging and fiercely competitive market.

The Hangzhou-based company said the fresh funding will be used to advance its technology development and speed up an ongoing integration between its smart speaker and other business segments. For instance, shoppers can use the Tmall Genie, as Alibaba's smart speaker is called, to watch a livestreaming presentation hosted by the company's e-commerce site Taobao and place an order directly from the device.

Alibaba's announcement comes as the Chinese smart speaker market is already on the rise. Roughly 45.9 million smart speakers were sold in the country in 2019, a 109.7% increase from a year earlier, according to global market intelligence firm IDC.

For now, Alibaba is the industry leader, selling 15.6 million smart speakers in 2019, according to IDC's estimates. But rivals are catching up. Baidu sold 14.9 million smart speakers last year, up 278.5% from the 2018 levels, the same data showed. Meanwhile, the number of smart speakers sold by Chinese smartphone vendor Xiaomi increased by 89.7% to 11.3 million units.

Related: China’s Smart Speaker Shipments Double in 2019, Says IDC


Share this article
Open WeChat and scan the QR code