GOOG Inches Closer To Numero Uno Position In China

By Monica Gerson
Benzinga Staff Writer
January 13, 2010 8:03 AM

Symbols: BIDU, GOOG

Posted in: Long Ideas, News, Global, Trading Ideas

Google Inc (NASDAQ: GOOG) finally managed to lower the gap between itself and its immediate competitor in the Chinese search market.

GOOG’s market share rose to 35.6% in Q4, compared to 31.3% in Q3, while that of the market leader Baidu Inc (NASDAQ: BIDU) declined, according to data released by Analysys International today. BIDU’s market share has dropped to 58.4% from 63.9%.

GOOG’s share price fell by 1.13% to $583.80 in after-market hours. Meanwhile, BIDU’s shares jumped 6.99% to $413.52.

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GOOG Inches Closer To Numero Uno Position In China

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