SenseTime Co., a Beijing-based startup founded in 2014 that sells its facial recognition systems to the Chinese police, just scored $410 million in new venture capital funding that values the company at more than $1.5 billion. The valuation, which makes the company a unicorn, underscores how such surveillance technologies are increasing in importance. Facial recognition breaks down a face into measurements that create a template, and SenseTime uses artificial intelligence to match faces against those in an image database. Continue reading SenseTime Facial Recognition Firm Is Valued at $1.5 Billion

Streaming video giant Netflix will finally enter the Chinese market, via a newly inked licensing deal with iQIYI, one of that country’s streaming platforms. When Netflix launched its efforts to go global a year ago, it failed to make deals in only a few countries, among them China, Iran and North Korea. Although not many details of the new arrangement have been made public, what is known is that Netflix content will be available on a day-and-date or near-simultaneous basis, as with other global territories. Continue reading Netflix Inks Licensing Deal with Chinese Online Video Platform

Ratings for the Olympics, once a bulwark of mass audience viewing, have been slipping. Now, NBC has a plan to reverse the slump, by airing live coverage of the 2018 Winter Olympics in South Korea from coast-to-coast in the U.S. The move acknowledges that viewers have immediate access to information via online platforms. That’s responsible for at least some of the 18 percent dip in viewership from the 2012 Games in London to the Summer Games in Rio last summer, which averaged 25.4 million viewers over 17 nights. Continue reading NBC to Air – and Stream – 2018 Olympics Live Coast-to-Coast

China has adopted a broad and controversial cybersecurity law that places new requirements on tech companies, which foreign businesses fear may be used to negatively affect competition. The law, designed to tighten state control over technology and information while ramping up online security, addresses areas such as data storage, technical support, censorship and government certification of hardware. According to The Wall Street Journal, “The law drew criticism from foreign business groups due to the expansive list of sectors that are defined as part of China’s ‘critical information infrastructure,’ making sectors including telecommunications, energy, transportation, information services and finance subject to security checks.” Continue reading Global Tech Firms Wary of China’s Broad Cybersecurity Law

Chinese tech company LeEco (formerly LeTV), has paid $2 billion for California television seller Vizio, which presently controls about 20 percent of the U.S. market. The Beijing-based company is often referred to as the Netflix of China, although it sells hardware devices such as TVs, set-top boxes, smartphones and electric cars in addition to its streaming services. With the acquisition, LeEco can now bring its services to the U.S. “Our strategy is to integrate our platform — including software and services — with devices,” said LeEco exec Winston Cheng. Continue reading LeEco Acquires Vizio to Bring its Streaming Services to U.S.

HTC helped put together the Virtual Reality Venture Capital Alliance, a coalition of 28 venture capital firms committed to investing $10 billion in virtual reality, augmented reality and mixed reality startups. Among the companies joining the consortium are Sequoia Capital, well known for investing in tech giants Apple and Intel; Matrix Partners; and 500 Startups. Prior to this, HTC — which created the Vive VR headset — had pledged more than $100 million to the nascent VR industry. HTC has since spun off Vive into its own separate company. Continue reading Virtual Reality Venture Capital Alliance to Support VR Startups

The rumors are true. Comcast announced yesterday that it would acquire DreamWorks Animation SKG in a deal valued at $3.8 billion. The move reflects a significant change in entertainment media as companies seek new ways to address the impact of evolving trends such as streaming video and cord-cutting. Since animation performs well in foreign markets and helps drive consumer product sales, DreamWorks could serve as a vital resource for NBCUniversal. The animation studio could also become a launch pad for the Universal theme parks unit, which is currently planning a new park in Beijing. Continue reading Comcast to Purchase DreamWorks Animation for $3.8 Billion

HTC has allocated $100 million to fund a ‘Vive X’ accelerator program with the goal to “help cultivate, and grow the global VR ecosystem by supporting startups and providing them with expertise, special access to advanced VR technology, financial investment, mentorship and unmatched go-to-market support.” The fund will support a wide range of startups. This differentiates it from the Oculus fund, which is one-tenth the amount and has an emphasis on the game industry, explains Road to VR. The program is open to companies that are creating content and tools that enrich the VR ecosystem and end-user experience. The global accelerator will initially open offices in Beijing, Taipei and San Francisco. Continue reading Applications Being Accepted for HTC VR Accelerator Program

Foxconn, the Taiwan-based factory operator best known for assembling Apple’s iPhones, is acquiring two-thirds of Japanese electronics manufacturer Sharp, which supplies phone screens to Apple. The $3.5 billion deal, which follows a slew of public negotiations, rumors and setbacks, could provide Foxconn with leverage to make it a more attractive Apple partner. However, some analysts suggest that the acquisition will hand Foxconn an ailing and costly business. Foxconn is facing rising labor costs in China and a global slowdown in smartphones, while Apple diversifies its supply chain. Continue reading After Months of Setbacks, Foxconn Strikes Deal to Buy Sharp

After a decade of planning and five years construction, The Walt Disney Company is set to open the Shanghai Disney Resort in the spring. The $5.5 billion project is a testament to the growing interest in bringing American entertainment brands to Chinese consumers. The 963-acre theme park, complete with an Enchanted Storybook Castle and a Mandarin version of “The Lion King” musical, is expected to be one of the largest Disney parks in the world. Disney already operates a park in Hong Kong. Continue reading Disney Plans June Opening for its New Theme Park in China

The Oculus Rift and PlayStation VR are not the only anticipated virtual reality devices shipping this year. While VR fans may be disappointed that the HTC Vive release has been pushed to April, CEO Cher Wang hinted at December’s Vive Unbound Developers Conference in Beijing that Valve and her team recently made “a very, very big technological breakthrough” to the system that prompted them to push the original Q1 launch date in favor of a more sophisticated product. Wang did not offer details, other than to suggest that the company is poised to make a major announcement at CES. Continue reading CES 2016: HTC’s Chief Exec Hints at Major VR Announcement

Comcast has turned to its theme park portfolio, which it acquired four years ago with its purchase of NBCUniversal, as a serious source of revenue. The company just committed to invest $1.6 billion to expand the Universal Studios Hollywood theme park in California — featuring a snow-capped Hogwarts Castle — and build a $3.25 billion theme park in Beijing, in partnership with Chinese companies, slated to open in 2019. Comcast invested $100 million for a new “Transformers” ride at Universal Orlando in 2013. Continue reading Comcast Commits to Theme Parks with Billions in Investment

Microsoft plans to release Windows 10 as a free upgrade and with new PCs and tablets starting July 29. To celebrate the launch, the company will host fan celebration parties in 13 cities around the world that will feature hands-on demonstrations, live entertainment and interaction with developers from the Windows team. A related global ad campaign will launch next week. The Windows 10 release is also part of Microsoft’s year-long Upgrade Your World initiative “to celebrate those who inspire and empower others.” Continue reading Microsoft Aims to Upgrade Your World with Windows 10 Launch

New language in China’s recently enacted national security law is generating major concern across the global technology industry. The rules call for a “national security review” of networking, tech products and services, and foreign investment. In addition, the rules call for crucial tech sectors to be made “secure and controllable,” which industry groups fear may suggest that back doors for allowing third-party access to systems would be necessary, perhaps even leading to the sharing of encryption keys or source code. Continue reading New Chinese Security Law Raises Concerns by Tech Industry

Major stores including Walmart, Gap, Rite Aid and CVS will no longer allow the use of Apple Pay. Instead, these companies are trying to push their own app, known as CurrentC, which would enable customers to pay directly with their checking accounts. CurrentC would save the retailers money on credit card transaction fees, but consumers seem to have already adopted ApplePay. In the first 72 hours of the Apple Pay launch, the service registered one million credit cards. Continue reading Retailers Block Apple Pay Despite Early Popularity with Users