By Besta Shankar: Subscribe to Besta's RSS feed
July 27, 2010 9:19 AM EDT
Dropping two low demand online services recently, Google Inc. on Monday announced snapping of ties with two of its total 25 advertising agents in the country, said a report from China Daily.
Google has terminated its partnership with Universal Internet Media and Xi'an Weihua Network which are the frontline advertising agents for the company in the East and Northwest China, said China Daily, quoting Marsha Wang, spokesperson for Google China.
"The partnerships ended a couple of weeks ago because both sides felt there were no longer any mutual benefits," Wang said. But she did not disclose details how much impact it will have on the Internet giant’s business in China.
Cautioned over Google’s redirecting of all mainland traffic to its Hong Kong site, many advertisers have cut down their advertising spend.
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The latest move brings more worries to other domestic advertisers due to Google’s stalemate with the Chinese government. And it is uncertain to weigh the how this move will affect the ties with other advertisers, said the report.
According to recent report from iResearch, Google witnessed a drop in market to 27 percent from 29 percent though search market in China has recorded a growth of 53.2 percent worth 2.64 billion yuan (389.6 million) in the second quarter.
On the other hand, Baidu Inc., the leading search engine in China, increased its share to over 70 percent.
But, Wang affirmed that the company will continue its commitment to online advertising market in China.
The internet giant will lose more market share if the company fails to initiate steps to address the advertisers’ concerns, said Edward Yu, president, Analysys International, to China Daily.
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