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  • tony_7005 tony_7005 Nov 15, 2010 11:53 PM Flag

    Google Exit From China A Predictable Gift

    Google Exit From China A Predictable Gift - Baidu ChiefLast update: 11/15/2010 10:31:23 PMSAN FRANCISCO (AFP)--- The head of China's dominant Internet search engine predicted Monday that Google Inc. (GOOG) wouldn't last in his country, calling the U.S. technology firm's retreat from the mainland was a gift. Baidu Inc. (BIDU) chairman Robin Li said that when Google launched its search service in China, his advice was that chief Eric Schmidt spend at least six months a year in that country to understand the market. "Apparently, Eric did not take my advice," Li said during an unprecedented on-stage chat at a Web 2.0 Summit in San Francisco. "I knew that, eventually, he would hand me a gift and it happened." Schmidt had his turn on the Summit stage earlier in the day, but didn't discuss Baidu. Baidu reported in October that its net profit more than doubled in the third quarter, as rival Google continued to lose market share following its public spat with Beijing over censorship. Baidu has increased its dominance of the world's biggest online market at the expense of Google, which has seen its share dwindle throughout the year. Baidu said its net profit soared 112.4% year-on-year to CNY1.05 billion ($157.89 million) in the third quarter. Total revenue ballooned to CNY2.26 billion, up 76.4% from the same period last year, the company said. China has 420 million web users, with 99% of them using Baidu, Li said. Baidu's share of the Chinese search engine market increased to 73% in the third quarter from 70% in the second quarter, according to Beijing-based research firm Analysys International. Over the same period, Google's share shrank to 21.6% from 24.2%, Analysys said. The U.S. Internet titan had boasted a 31% share in the first three months of the year, before its protracted tussle with the Chinese authorities. In March, Google said it would no longer bow to government censors and effectively shut down its Chinese search engine, automatically re-routing mainland users to its uncensored site in Hong Kong. The web giant has since tweaked the way it re-routes users in order to renew its business license in China, creating a new landing page with a link to the Hong Kong site, which users must click on themselves. (END) Dow Jones NewswiresNovember 15, 2010 22:31 ET (03:31 GMT)

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