Qihoo Rising Domination of The Chinese Search Engine Industry.
Qihoo 360 Technology seems to be make some serious progress in the Chinese internet industry. And is currently being a tough competitor against its rivals, such as Baidu. In fact, it’s been able to take away some of their market share and is currently competing against Tencent in the gaming market as well. It would be only a matter a time before Qihoo contines to advance on its solid performance or be subdued by its own rivals.
Qihoo has set itself up for an incredible growing pace. its revenue for the fourth quarter manage to increase over 115% up to $221.6 million from the year age period. This was more than any analyst had previously estimated of $209 million. It’s earnings have increased 218% to $0.70 per share as compared to previous year. This has once against surpassed analyst’s estimation of $0.43 per share.
Qihoo’s growth is mainly due to the their strategic decisions taken by the company to strengthen its mobile security and mobile application store productions, At the moment, Qihoo has active user base of over 475 million and enjoys it currently thrown positioned within the Chinese internet industry. Furthermore, 70% of China’s active PC internet use have used Qihoo’s PC browser. Qihoo is also a leader in smartphone security within China with over 70% market share.
Moving on, management has been made to believe that it shall have a leading position within the Android based application distribution within China, which will boost its results. At the moment, Qihoo leads the market and enjoys over more than 40% of the market share. Its search engine has also garnered traction reaching a market share of 23%.
This has lead to them gaining a huge achievement for the company since during one point at time, Baidu was the dominant player within the search industry in China. According to research firms, CNZZ previous year baidu had a total of 70% market share, which is currently fallen down to 58%. And is looking towards gaining a current growth pace of Qihoo, Baidu’s share might fall further. In order to further strengthen their position, Qihoo has already launched a few mobile search related products.