Citigroup analyst publishes research report

Li Muzhi, Lavis Sarat (Ravi sarathy) and Gregory Zhao (Gregory Zhao) said: "Eric Consulting analyzes the online activities of 40余万名 users and calculates the Internet traffic data for PC users. The scope of its data sampling covers more than 3,000 websites and 1000 software, according to the consultancy. ”

Nasdaq:bidu's share of the Chinese search market in September was 79%, higher than the August 78%, and Qihoo's share of 14%, according to the data released earlier in the consultation. CNZZ data showed that Baidu's November share of the market has fallen to 62%, while Qihoo 360 's share has risen from 20.8% to 22.6% in October.

"According to industry sources, CNZZ's research covers a wide range of small and medium-sized websites in China, but it does not cover a large number of websites, such as Sina (Nasdaq:sina), Sohu (Nasdaq:sohu), NetEase (nasdaq:ntes) and Tencent 0700," said Citi. HK) and other websites. "This means that Qihoo 360 's share of the Chinese search market has grown largely from small to medium sized sites rather than to large ones."

In addition, Citigroup analysts have questioned Cnzz's holistic approach to analysis. "Last but not least, CNZZ data says Microsoft still dominates the Chinese Internet browser market, with a share of 41% per cent of independent user visits, followed by Qihoo 360, 26% per cent, and chrome again, with a share of 8% per cent. But according to Qihoo 360 's second-quarter earnings, the total number of users of its 360 secure browsers has been over 330 million by June 2013, compared with 56% of 591 million Chinese internet users. ”