Huawei, Tencent lose cloud market share as Alibaba, Baidu extend lead

Chinese tech giants Huawei Technologies Co and Tencent Holdings lost cloud services market share in the third quarter amid tough competition from market leader Alibaba Group Holding and foreign players, according to a new report.The digital transformation of Chinese enterprises has given the country’s cloud infrastructure services market a major boost, with third-quarter revenues growing 43 per cent year on year to US$7.2 billion, according to data provider Canalys.However, the growth rate was…

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