LG reports ~10% sales bump in Q1, mobile revenues up 4% QoQ, 2% YoY

 LG Electronics has posted its Q1 2017 results, which show a nearly 10 per cent year-over-year jump in revenue. The electronics maker is reporting KRW 14.66 trillion ($12.70BN) in revenue, an increase of 9.7 per cent from the same period last year. Read More

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TransferWise moves into Asia Pacific with opening of regional HQ in Singapore

 TransferWise, the billion-dollar valued startup that reduces the cost of cross-border payments, has taken a big step to globalizing its service after it opened an Asia Pacific office in Singapore. The UK-based service was started in 2010 by Estonian entrepreneurs Kristo Kaarmann and Taavet Hinrikus, its CEO, as a method for sending money from country to country more efficiently. It… Read More

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Samsung posts 48% profit jump — but it’s all down to components not smartphones

 Despite the Galaxy Note 7 saga and the arrest of its defacto head on bribery charges, Samsung’s business has bounced back. The company just announced its first quarter financial results, and they are as impressive as it had forecast earlier this month. Operating profit for the quarter rose by 48 percent year-on-year to reach 9.9 trillion KRW, or approximately $8.7 billion. That makes… Read More

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China’s Didi Chuxing is raising up to $6 billion at a valuation of over $50 billion

 Didi Chuxing, the on-demand giant that drove Uber out of China, is set to become the world’s second-highest valued tech startup. Beijing-based Didi is in the process of raising a round that could reach as high as $6 billion at a valuation that would exceed $50 billion, a source with knowledge of discussions told TechCrunch. That’s not far from Uber itself, which is said to… Read More

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Paktor, a major rival to Tinder in Asia, moves into live-streaming via merger deal

 Dating app Paktor, often dubbed ‘The Tinder of Southeast Asia,’ just sealed up its move into live-streaming and media content after it announced a merger deal with Taiwanese startup 17 Media.
Under the deal, a new company called M17 Entertainment has been created with shares from both Paktor and 17 Media, company representatives confirmed. They didn’t, however, reveal a… Read More

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Korea’s TicketMonster raises $115M, devalued to $1.2B pre-money, to ramp up in grocery and travel

 After an M&A rollercoaster that involved getting acquired by LivingSocial and then Groupon (before getting spun out again), Korea’s TicketMonster, an e-commerce marketplace, today is announcing a major cash injection to boost its chances as an independent company in a highly competitive, tech-savvy market. The company has raised $115 million from a new outfit, the Simone… Read More

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