SHANGHAI: Microsoft, Yahoo and just about every other internet operator you can name may be tearing out what's left of their hair over the dominance of Google, but China's Baidu sails serenely on.
The Chinese search engine giant has just lifted first quarter profits by 24% and, more importantly, increased its market share in China to 62.2% from 59.3% last year, according to researchers AnalysisInternational.
Baidu chief executive Robin Li says that Baidu will post “a high growth rate” for years to come as the Chinese internet audience, currently estimated at 300m, grows.
Li recognizes that his main task is to fend off Google and says that this means the company is sticking to its last. “It's important to remember Baidu is a search company,” he says, “we don't intend to be a content provider.”
Google announced recently that it intended to launch a free online music service in China with partners including Warner Music Group and Sony.
Baidu also allows users to search for music files on the internet but Li says that such offerings and related advertising account for less than 5% of revenue.
“Opportunities in music have not been as strong as expected,” he says.
Data sourced from China Post: additional content by WARC staff.