SEOUL (Reuters) - Shareholders of South Korean internet portal operator Daum Communications Corp and messaging app company Kakao Corp on Wednesday approved a merger of the two firms in an all-stock deal that values Kakao at more than $3 billion.
Kakao's KakaoTalk is the undisputed chat leader in South Korea, but its global user base is far smaller than the likes of Facebook Inc's WhatsApp or Naver Corp's Line.
The merger with Daum, South Korea's No. 2 internet search company, will give Kakao new lines of revenue and boost its resources for overseas expansion.
BEIJING (Reuters) - Xiaomi Inc, the three-year old company known as the Apple of China, has become the world's No.5 smartphone maker by market share while Samsung Electronics Co Ltd's lead has continued to shrink, a report by Strategy Analytics shows.
Three out of the world's top 5 smartphone sellers were Chinese manufacturers in the second quarter, Strategic Analytics said, as China's low-cost offerings on the Android operating system whittle away Samsung's market share.
BRUSSELS (Reuters) - The European Union is teaming up with South Korea to jointly research the next generation of mobile broadband technology, hoping the Asian country's expertise will help it catch up in a field crucial for economic growth and jobs.
South Korea has one of the fastest mobile broadband networks and is home to Samsung, the world's biggest smartphone maker.