Could Qihoo 360 be able to give tough time to the market leader, Baidu?
San Francisco, CA -- (SBWIRE) -- 09/12/2012 -- With the recent announcement of China’s leading search engine firm, Baidu, investing 10 Billion Yuan ($1.3 Billion) in cloud computing, Qihoo 360 has decided to challenge Baidu in an effort to survive in the market.
Baidu’s attempt was seen as a strong initiative to overpower their weak competitors like Qihoo 360 but it appears that the Qihoo is prepared to fire back by introducing their own search services.
With the release of their search engine last week, Qihoo has decided to make it the default search engine on all of its browsers while this service was previously being supplied by Google.
According to the analysts, Qihoo’s decision regarding the search engine is like declaring a war against current search providers.
An internet analyst at Credit Suisse, Wallace Cheung, told Chinadaily.com that, “It will take time for Qihoo to gain a significant market share and build up its sales channels to compete against Baidu.”
“We don't expect Qihoo search services to have an immediate effect on Baidu's revenues, at least not in 2012,” he added.
When asked to comment on the issue, Baidu’s representatives made no comment while Qihoo was also reluctant in disclosing their market share.
According to a local research company, Analysys International, Baidu dominated with 78.6 per cent of the online search market share. They also stated that Google has 15.7 per cent share in this market and it is unclear exactly how much share is currently captured by Qihoo.
A Chinese IT critic, Hong Bo said, “Qihoo's brand is not very well-known among search engines. The people who use it are mainly the same ones who use its Web browsers, and others are not likely to pick Qihoo as their first choice for search services.”
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