China Mobile to buy 15 percent stake in Siri-like tech maker

China Mobile to buy 15 percent stake in Siri-like tech maker

Summary: The Chinese telco has announced a US$200 million deal to acquire a minority stake in speech recognition software company iFlyTek.


China Mobile has purchased a 15 percent stake in iFlyTek, a company that specializes in speech recognition technology, in a deal worth over 1.36 billion yuan (US$200 milllion). The two will collaborate to develop Mandarin voice recognition technology.

In a statement Thursday, the telco announced that it would pay for the transaction with around 70 million shares valued at 19.40 yuan apiece. 

Before its trading halt, the company's stock last changed hands at 21.49 yuan on the Shenzhen stock exchange on Aug.9, according to Bloomberg data.

As part of the deal, China Mobile added that it will designate a person to be a non-independent director on iFlytek.

According to a report Friday, news site TechinAsia noted that iFlyTek's voice-recognition technology powers the Siri-like voice assistant found in the new M2 handset launched by local phonemaker Xiaomi, which may pave the way for similar plans.


Topics: Smartphones, Emerging Tech, Telcos, China


Loves caption contests, leisurely strolls along supermarket aisles and watching How It's Made. Ryan has covered finance, politics, tech and sports for TV, radio and print. He is also co-author of best seller "Profit from the Panic". Ryan is an editor at ZDNet's Asia/Singapore office.

Kick off your day with ZDNet's daily email newsletter. It's the freshest tech news and opinion, served hot. Get it.


Log in or register to join the discussion
  • Nike soccer cleats 2012

    The Tiempo IV Elite’s upper is comprised of a Nike Football Cleats ultra-soft kangaroo leather upper that once featured on the original Nike Mercurial Vapor boots. However, using new technologies such as the addition of Flywire and the carbon fiber soleplate, they’ve managed to bring the boot down to a Nike Mercurial Vapor Superfly brilliant 8.2 ounces. The Tiempo IV Elite now has visibility enhancing patterns on the heel in an effort to get teammates to notice the wearer quicker. The way Nike Mercurial Vapor VIII does this is by using Volt diagonals on the heel which increases the peripheral vision of teammates.
  • Nike mercurial soccer cleats

    The report of gamers who have converted to the Nike CTR360 Maestri football boots certainly produces for amazing reading, and therefore certainly are a testament to the all round performance attributes belonging to the CTR's. contemplating that their discharge we've witnessed this kind of gamers as Cesc Fabregas, Andres Iniesta, Sergio Aguero, Javier Mascherano, Rafael van der Vaart, James Milner, Florent Malouda, Fernando Gago and Ashley Cole impressing on this producer new boot range.