At the Abu Dhabi Media Summit, Google’s CEO, Eric Schmidt, said that the company was ready to completely pull out of China if tensions between the country and the company remained tight. Things have not changed between the two, and word comes from a Chinese Google employee that Google is preparing to leave China on April 10 and potentially announce its exit strategy in four days. Google has not confirmed the validity of the report and declines to comment on anything related to pulling out of China. The Mountain View company has had conflicts with the Chinese government after it decided to unfilter its search results, against the dictation of the government.
With Google preparing to pulling out of the Chinese search engine market, the surface of the market has changed completely. Since the January 12 announcement, Badiu’s shares have climbed 46% while Google’s fell 4%. Baidu is Google’s major competition in Asian countries such as China.
Via Bloomberg
