Baidu Surpasses Google as Second Largest Vendor of Smart Speakers
The stock in Baidu Inc. (Nasdaq: BIDU) ended the day 2 percent higher, at $103.80 per share, on Monday, on news that the company has surpassed Google as the second-largest vendor of smart speakers.
The search engine exclusively serving in China captured 17.3 percent of the global market with 4.5 million shipments in the three months through June, according to Canalys, the marketing, analytics and research firm.
Baidu followed Amazon.com Inc. (Nasdaq: AMZN) in quarterly shipments. The American e-commerce giant reached 6.6 million shipments, holding more than 25 percent of the market share. Baidu did beat Amazon on annual growth, as that increased by an enormous 3700 percent, compared with Amazon's 61 percent. The global smart speaker market also grew 55 percent to reach 26.1 million shipments.
Cynthia Chen, a research analyst at Canalys, commented on Baidu's success in the latest quarter.
"Aggressive marketing and go-to-market campaigns built strong momentum for Baidu in China," Chen said in the report on Monday.
"Local network operator's interests on the [smart display] device category soared recently. This bodes well for Baidu as it faces little competition in the smart display category, allowing the company to dominate in the operator channel."
Another of China's giants, e-commerce company Alibaba Group Holding Ltd. (NYSE: BABA), ranked as the fourth-largest vendor. Alibaba recorded 4.1 million shipments in the three months through June and achieved 39 percent annual growth.
Alibaba's stock closed up nearly 1 percent, at $165.90 per share, on Monday.