Information technology consumption rises: Ministry
Consumption of information technology in China exceeded 690 billion yuan ($110 billion) during the first quarter, spurred by strong growth in online shopping and broadband markets, theMinistry of Industry and Information Technology said recently. Turnover in online retail hit 557.2 billion yuan, a surge of 46 percent year-on-year. The sum accounted 9 percent of the nation’s total retail sales, the ministry said. smartphones and wearable devices. “The current market structure is about to change dramatically because of the enlarging middle-class population and weaker phone subsidies from carriers,” said Johan Lodenius, chief marketing officer ofMediaTek. Looking ahead, the company will focus on more affordable devices, Lodenius said.