Chinese technology and media conglomerate Tencent Holdings Ltd have formally announced that they have invested almost $2 billion to acquire a 12% stake in disappearing messaging-application Snapchat. The news comes just days after Snapchat posted poor quarterly results leading to a share price drop by 16% to $12.67, a far cry from its $17 IPO in March.

Read more: Chinese technology conglomerate acquires 12% stake in Snapchat

Parking management technology developer ‘Smart Parking’ has officially deployed its Internet of Things-based parking solution in the Australian city of Casey. The cutting-edge solution specifically designed to transform your parking experience consists of 904 ‘Smart Parking vehicle detection sensors which are used in order to monitor space availability and mobility bays.

Read more: Technology developer deploys its IoT ‘smart parking’ solution in Australian city

Chinese smartphone manufacturer Xiaomi has entered the European market for the first time following its announcement that its devices are now retailing in Spain. It’s part of the company’s new overall global strategy that will see them attempt to penetrate new markets in the forthcoming months.

Read more: Chinese smartphone manufacturer enters European market as part of new global strategy

Chinese smartphone maker Huawei is working on producing a foldable smartphone, Richard Yu, CEO of Huawei Consumer Business Group, said in a recent interview. The foldable smartphone could be available as soon as next year, the CEO said. Huawei’s South Korean rival, Samsung, also confirmed that it’s working on a similar foldable product.

Read more: Could foldable smartphones soon be a reality?

WISeKey, a digital information security, authentication and identity management company based in Switzerland has announced that its Internet of Things blockchain technology is set to be deployed in a number of selected ‘smart cities’ in China.

Read more: Swiss firm to deploy its IoT blockchain technology in selected ‘smart cities’ in China

Huawei was the first ICT solutions provider to complete the entire second phase of 5G technology R&D test organized by the IMT-2020 (5G) Promotion Group. The results obtained during the test were showcased at the PT/Expo China 2017.

Read more: Huawei successfully conducts second-phase of 5G R&D test in Beijing

Chinese AI firm SenseTime and Qualcomm Technologies announced plans to collaborate on artificial intelligence (AI) and machine learning (ML) for future mobile and IoT products. This collaboration will draw from the expertise of both companies in AI by leveraging SenseTime’s ML models and algorithms with Qualcomm Snapdragon platforms, which offer advanced computing capabilities for client based AI.

Read more: Qualcomm and Chinese firm to collaborate on AI for mobile and IoT

Huawei has unveiled its first smartphones fitted with its first AI mobile chipset, the Kirin 970. The Huawei Mate 10, Huawei Mate 10 Pro and Porsche Design Huawei Mate 10 were unveiled in Munich on October 16, and combine the Kirin 970 chipset and EMUI 8.0 Android interface. The Mate 10 Series continues its legacy of long-lasting battery life, while integrating New Leica Dual Camera technology.

Read more: Huawei unveils first smartphones with AI mobile chipset

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