Yahoo China Cancels Online Music, Translation Services
Jan 23, 2013 (SinoCast Daily Business Beat via COMTEX) -- The China segment of Yahoo! Inc. (NASDAQ: YHOO) is said to have canceled the online music and translation services on January 20.
The businesses of Yahoo's China segment, acquired by Alibaba Group, have gradually faded out of the sight of Chinese netizens.
Insiders guessed that since Alibaba had adjusted its architecture, Yahoo would completely withdraw from Chinese market, but Alibaba stated that Yahoo's businesses in China would remain as usual, and that the elimination of the music business was just a strategic adjustment.
Foreign websites have been withdrawing from Chinese market recently. Last week, Google Inc. (NASDAQ: GOOG) vowed to revoke the shopping search service in China. The company has also stopped its music search service in the country because of the fierce competition from Baidu.com, Inc. (NASDAQ: BIDU), which signed copyright agreements with Universal Music Group (UMG), Warner Music Group (WMG), Sony Music Entertainment and BMG last week.