Chinese smartphone users are taking to mobile ecommerce more quickly than they were expected to, creating a boom for mobile internet companies, writes Charles Clover.
Alibaba, one of the biggest beneficiaries, said on Wednesday that its mobile revenues had climbed 10-fold in the three months to June 30 – from Rmb240m in the second quarter of 2013 to Rmb2.4bn ($391m).
Almost 500m of Chinese internet users say they have accessed the internet using smartphones, which are very cheap in China, some costing as low as $70. Experts say this figure is destined to rise rapidly as China has 900m mobile phone users, many of whom still have not entered the 3G or 4G era.
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