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Asia Tech Review: February 4 2019

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Welcome back for another weekly review of what happened across Asia’s tech world, Happy Lunar New Yea
 
February 4 · Issue #102 · View online
Asia Tech Review
Welcome back for another weekly review of what happened across Asia’s tech world,
Happy Lunar New Year to those who celebrate it. As a result of the holiday, this week could be quieter than usual for news.
Recapping the past week, highlights include:
🚘 Two Chinese state-run automakers did JV deals with tech firms
🏭 Foxconn’s proposed US factory took two plot twists (but is apparently still on track)
🛍 Amazon and Flipkart removed 100,000s of products to comply with India’s new law
💰 In Southeast Asia, Go-Jek and Grab announced new rounds
📊Earnings reports for Alibaba, Sony, Samsung, Nintendo and LG
Enjoy, and see you next week!
Jon
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China
Alibaba’s growth slows to lowest in 3 years
Foxconn's Wisconsin factory plan remains on despite apparent u-turn
Tencent moves into automotive with $150M joint venture with GAC
Didi teams up with state-owned BAIC to deepen electric vehicle push
Vision Fund is reportedly in talks to invest $1.5B in used car platform Guazi
China's Starbucks challenger Luckin Coffee said to be eying a US IPO
TikTok is quietly testing ads
WeWork could challenge Starbucks in China with new on-demand service
Travis Kalanick is apparently planning to launch a cloud kitchen business in China
India
Amazon and Flipkart remove products to comply with local laws
Paytm enters hotel booking business with $20M acquisition of Nightstay
India’s largest bank SBI leaked account data on millions of customers
Japan
Nintendo cuts Switch sales forecast despite strong holiday season
Sony posts strong music earnings but gaming business disappoints
Korea
Samsung reports fall in revenue and profit
Poor smartphones sales drag LG to first quarterly loss in 2 years
Kakao is "reviewing" a potential bid for Nexon
Southeast Asia
Go-Jek makes first close of Series F round
Grab raises $200M from Thailand's Central Group
Facebook takes down hundreds of accounts linked to Indonesian fake news group
Ofo lays off Singapore operations team
First China, now Starbucks gets an ambitious VC-funded rival in Indonesia
Interesting Reads
South Korea pins hopes on start-ups to power economic growth link
A 1984-style government propaganda app is topping charts in China link
The India government is pushing ‘national champions’ link
Concerns around the rise of Chinese AI-based services and apps in India link
Recent data breaches have dented Singapore’s position as a destination for tech and startups link
Bangkok has a major pollution problem… (as I well know) link
British venture builder Entrepreneur First has big plans for Asia link
The geopolitics of 5G link
Indonesia’s Batam island hopes to rival Singapore as a shipping and manufacturing hub link
Singapore is helping China build a new city of 500K people link
Meanwhile, Chinese investment in Southeast Asia is declining link
Interesting read on a young Malaysia in New York who has turned his passion for podcasts into a full-time business link
Not Asia but >> Fortnite continues to push the boundaries after over 10 million people tuned in to a DJ’s concert within the game link
That's all for now -- see you next week
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