China’s biggest search engine Baidu Inc is expanding outside the country by setting up an office in Brazil. According to China Daily, the company is preparing to set up a branch in Sao Paulo.
“Baidu aims to compete with Google, with the new branch,” a manager in charge of Baidu’s business in the Latin American country stated.
“It will launch a Wikipedia-like product first, but it doesn’t have a timeline for its search service. The new branch will employ 20 people in the first six months and perhaps more eventually,” the manager added.
This is not the first time that Baidu’s is setting up a base in a foreign country. In 2007, the search engine entered the Japanese market. However, it remains a small player in Japanese search market, where Google has an overwhelming share.
Baidu’s market share in the fourth quarter was 78.3%, according to a data from Beijing-based research firm Analysys International, while Google’s market share was only 16.7%. Analysts expect Baidu’s earnings to increase 54% in 2012 and at an average of 48% annually for the next five years.
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