SK Telecom introduced what it claims is the world’s first commercial “mobile telematics” service in China. The so-called E-MIV service enables customers to use their internet-linked smartphones to remotely secure, track and manage their cars. SK Telecom’s subsidiary Shenzhen E-eye High Tech Co expects to have about 10,000 users during the first year of E-MIV operations in China. The service’s car safety and security feature detects when a car door is being forced open or when the car is being moved without the ignition being turned on. It triggers an alarm and then sends out warning text messages to the pre-registered mobile phone number. The GPS link helps to instantly pinpoint the car’s location. The service is entirely web-based. Users can also periodically check the status of the car and remotely control various components, including the car’s doors, trunk, horn and headlights, and receive the car’s operational data and maintenance history. The firm plans to add a vehicle diagnosis feature next year. It will cost from CNY3,000 to CNY4,500 to install the GPS terminal in the car and from CNY90 to CNY100 per month for the E-MIV service. “We expect to surpass CNY700 million in revenue and become the market leader in 2015,” said Peng Yangming, Chief Executive and President of Shenzhen E-eye High Tech Co. The firm will start to deliver E-MIV services in Shenzhen this month and expand to the rest of Guangdong province and to Sichuan province next year. It has six subsidiaries that operate 200 retail stores. SK Telecom bought a controlling stake in Shenzhen E-eye for CNY114 million in 2007.

The shares of both Dangdang and Youku.com were priced above indicative ranges for initial public offerings (IPOs) in the United States as investors showed a strong appetite for Chinese internet companies. Dangdang sold 17 million shares on the New York exchange, raising USD272 million, 33% more than originally planned. Youku.com, China’s top online video-sharing website, raised USD203 million after planning to generate USD169 million. IT industry experts said whether Chinese internet firms will succeed depends on the steps they take to deal with intellectual property rights (IPRs) and developing unique competitiveness. China Dangdang, which operates the Dangdang.com website, reported a 56% increase in sales in the first nine months of 2010 from the same period a year ago. Last year, Youku.com reported a loss of USD26.7 million. Its losses have been dropping in recent years due to lower operation costs. Youku’s debut capped the biggest one-day advance in five years, while Dangdang’s shares almost doubled on their debut. Youku surged 161% to USD33.44, second only to the record set by Baidu.com, which soared 353% when it was first traded in August 2005. With the share surge Youku is now worth USD3.43 billion, exceeding the USD2.88 billion market value of Sohu. Dangdang’s shares jumped 87% to close at USD29.91. “The shares may remain strong for several weeks on speculation,” Joseph Greco, a trader on the New York Exchange said. “They will gradually fall after the initial surge.”

Hanwang Technology Co (Hanvon) will invest heavily to expand its online book store to catch up with the world’s market leader Amazon, the company said. Sales of Hanwang’s e-book reader have reached more than 1 million units due to booming sales in Shanghai, Beijing and Guangdong province, according to Hanwang’s Chairman Liu Yingjian. By the end of next year, Hanwang’s online book store will include 200,000 books, a rise of 50% from this year, about one-third of Amazon’s 600,000 books now. “We have entered a new three-year period to establish a strong platform for e-books in China, not only selling devices,” Liu said. Hanwang aims to expand its online store to provide downloads of books, magazines and newspapers. The Beijing-based firm has launched an 8-inch e-book reader that allows users to use online social-networking services like Weibo, the Chinese equivalent of Twitter. In 2010, China’s e-book reader sales are expected to rise fourfold year-on-year to 3 million units, according to U.S.-based research firm DisplaySearch.

Facebook CEO Mark Zuckerberg toured the offices of China’s top search engine Baidu during a visit that has sparked speculation he is looking for business opportunities in China. Facebook is blocked on the mainland, but Zuckerberg has expressed a business interest in China and has studied Mandarin. Kaiser Kuo, Baidu’s Director of International Communications, told the Associated Press that Zuckerberg had lunch with Baidu CEO Robin Li.

Tencent Holdings online QQ chatting tool is now being offered in three foreign languages. QQi is now available in English, Japanese and French and is intended to provide users worldwide the opportunity to connect with Chinese friends, customers and clients, the company said. Tencent will also launch an English-language social networking site in early 2011 that will integrate QQi and its international portal. Tencent has enlisted Shanghai-based mInfo as its new search and content partner. It is incorporating mInfo’s “Guangxi” search and mobile city guide service into QQi. Gaining market share abroad would be difficult, warned Michael Clendenin, Managing Director at research and consultancy firm RedTech Advisors in Shanghai. “In more established Western markets, Tencent’s QQ instant messaging service lacks first-mover advantage and the so-called network effect that made it so popular in China,” he said. Dong Xu of market research firm Analysys International, said QQi would not be able to compete against global messaging players without adding other competitive services.