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Tag: China

  • Cross-border eCommerce ‘set to skyrocket’ in China

    Cross-border eCommerce ‘set to skyrocket’ in China

    Cross-border eCommerce (CBEC) is set to skyrocket in China according to a new report from international think tank Fung Global Retail & Technology.

    To capitalise on this, international retailers need to complement their existing expansion strategy with online sales platforms, says Fung Global MD Deborah Weinswig.

    Cross-border eCommerce is the most efficient platform to reach increasingly affluent and sophisticated Chinese shoppers seeking products from overseas, says the report, The International Retailers’ Guide to Cross-Border E-Commerce in China.

    With Chinese authorities relaxing the rules, online purchases of overseas products are expected to increase to US$285 billion in value in 2018, up from US$136 billion last year.

    As well as authenticity being less of a concern, eCommerce purchases attract less taxes so are cheaper for consumers, writes Weinswig. As a result, it is projected that a quarter of the population will shop on foreign sites or through third parties in 2020, up from 15 per cent this year.

    “We expect CBEC will drive the next leg of eCommerce growth as Chinese eCommerce companies and international retailers launch globalised versions of their portals. By selling through CBEC, international retailers can reach Chinese shoppers regardless of whether or not they have a physical presence in China.”

    China is already the largest eCommerce market in the world, with the use of CBEC via such marketplaces as JD Worldwide and Tmall Global being attributed to the continuing rise of the upper middle class with its growing use of the internet and belief that international brands are of higher quality.

    Regulations formalised

    Most shoppers seek items related to wellbeing such as cosmetics and organic foods, expensive or hard to find domestically, says the report. Many foreign eCommerce companies have launched Chinese websites, and since late 2014 authorities have been formalising regulations including tax reforms and expediting customs clearances.

    Japanese companies in particular are targeting Chinese CBEC shoppers, using mobile apps such as Rakuten and China’s Wandou.

    Choosing the right platform is crucial, writes Weinswig. Options include…

    • Online marketplaces such as Alibaba’s Tmall Global, a third-party eCommerce platform that lets brands open a storefront. International distributors using this platform include Macy’s, Metro, Shiseido and Uniqlo.
    • Online direct sales such as Amazon.cn, Jumei Global Store, Kaola.com (for smaller brands) and Vipshop. Distributors buy from the retailers to resell to consumers.
    • Hybrid eCommerce platforms such as JD Worldwide that combine elements of an online marketplace and online direct sales. JD Worldwide partners include eBay, Lotte, Rakuten and Unilever.
    • Overseas shopping platforms.

    “To succeed in the Chinese market, international retailers are advised to have a strategic plan for CBEC that complements their China strategy,” writes Weinswig. “International retailers will need to decide which cross-border channels to sell on, driven by considerations of each platform’s targeted clientele and product category, costs, track record and suite of value-added services.”

    Fung Global Retail & Technology is based in Hong Kong, London and New York.

  • Pizza Hut China debuts robot waiters

    Pizza Hut China debuts robot waiters

    Pizza Hut China has jumped on the robot restaurant bandwagon with its latest Shanghai outlet featuring two robot waiters.

    On the basement floor of the new Shanghai Tower, which as yet only has its observatory open, it is Pizza Hut’s first concept store, PH+.

    Guests are greeted by the two 80cm robots (both named Casper) at the door. The guest’s table number appears on their screen and one of them will lead the diner to their seat.

     

    Diners can place their orders via a display screen. Signature dishes include steaks and soft-shell crab pizza, and there are also special cocktails.

    In May, KFC introduced a high-tech outlet at Shanghai’s National Exhibition and Convention Center, where robots take the orders.

     

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  • Changed deal as McDonald’s Corp sells

    Changed deal as McDonald’s Corp sells

    While finalising a buyer for its China and Hong Kong stores, McDonald’s Corp has decided to keep a “significant” minority stake.

    The US fast-food chain has picked a consortium led by private-equity firm Carlyle Group and Chinese conglomerate Citic Group to buy the stores.

    Its decision to retain the minority stake lowered the price tag from the $3 billion reportedly sought. An insider says McDonald’s decided to keep a slice of the business as it wants exposure to future growth in the world’s second-largest economy.

    Meantime, the company will also keep its stores in South Korea, which it previously also wanted to sell, Reuters reports.

    Early this year McDonald’s said it was reorganising its business in the region, seeking strategic partners in China, Hong Kong and South Korea as it switches to a less capital-intensive franchise model.

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  • HSBC to step up hiring in China

    HSBC to step up hiring in China

    HSBC Holdings plans to step up hiring in China for its retail and wealth business next year. The London-based lender is persisting with its expansion in China despite Britain’s economic slowdown and measures to stem capital outflows.

    The bank increased the number of retail bank employees in China’s Pearl River Delta by 57 per cent in the 12 months to September, according to Mr Kevin Martin, the firm’s Asia-Pacific head of retail banking and wealth management.

    The pace of hiring may accelerate next year as HSBC Holdings expands in areas like mortgages, credit cards, personal lending and wealth services in the Pearl River Delta, he said.

    “We’re exactly where we expected to be,” Mr Martin said in an interview in Hong Kong last Friday, referring to his unit’s growth in the region.

    “Historically, our customers in Shenzhen were Shenzhen-Hong Kong customers. Now the Shenzhen customers stay in Shenzhen because we’re building our local business as well as our cross-border business.”

    HSBC started its credit card business in China yesterday after it received regulatory approval to issue cards by itself. It had previously partnered Bank of Communications to do so. HSBC is seeking to issue more than 3 million cards in the short to medium term and add “a handful more” branches across China next year, Mr Martin said.

    HSBC is trying to capture business from China’s swelling ranks of affluent individuals even as economic growth slows and the authorities take steps to curb outflows of yuan from the country and cool the property market.

    Chief executive officer Stuart Gulliver said in February that HSBC will hire 4,000 employees mainly in the Pearl River Delta over five years instead of three, as a result of the economic downturn. Retail banking and wealth management accounted for 36 per cent of the bank’s Asian pretax profit in the third quarter.

    Mr Martin said: “Despite everything that’s happened, we’ve done everything we said we would. Retail business is a long-term business. We don’t make decisions based on changing regulations on the day. It’s the honest answer.”

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  • Apple’s iPhone 7 Sees Discounting as China Sales Fall

    Apple’s iPhone 7 Sees Discounting as China Sales Fall

    Jun Zhang today reiterates a Neutral rating, and a $102 price target, warning that sales of the iPhone in China, he estimates, are “still weaker than retail channels” as discounting of the phone has popped up across the country.

    iPhone sales, presumably in dollars, he doesn’t specify — fell by 6% in November, and are probably down “slightly” from November this month, as discounting takes hold outside of tight supplies at Apple’s online store:

    Overall iPhone sales in China were down 6% in November and slightly down MoM in November due to some pushes in “single day” sales. In our view, iPh- one 7 sales will continue trending down and many retailers in China have al- ready started discounting ($50) the iPhone 7 in November. iPhone 7 Plus sup- ply is catching up in November, and sales have grown MoM in November. iPh- one 6/6S sales continue to be weak. The 7 Plus model currently accounts for 60% of iPhone 7 sales in China. We started seeing some retailers discounting this model in November. In our view, there is a waitlist if ordered from Apple’s online store, but consumers can easily buy them from local stores and third party retail stores. Since the jet black mod- el has high return rate, Apple might try to control capacity. Overall, we believe iPhone sales in China are still weaker than retail channels expected.

    Zhang also cautions investors not to be mislead if they hear of component orders rising come the March quarter. In his view, “Some noise of Apple increasing orders might come from the iPad instead of the iPhone,” given he sees Apple refreshing the various iPad models in March.

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  • China Duty Free Group appoints Lee Charn Cheng as COO

    China Duty Free Group appoints Lee Charn Cheng as COO

    China Duty Free Group (CDFG) has announced the appointment of Lee Charn Cheng (CC Lee) as Chief Operating Officer.

    A seasoned retail professional with a wealth of travel-retail experience, Lee spent 26 years with DFS Group, serving as managing director of Singapore and subsequently  managing director for Australia before leaving to join Valiram Group as Country Manager for Singapore. His most recent position was CEO for Lagardère Travel Retail responsible for Singapore and Malaysia and overseeing business developments in Hong Kong.

    Lee commented: “My last five years with Lagardère Travel Retail has been exciting as we see significant business growth. I thank my bosses Dag and Emmanuel for their support. I look forward to the exciting challenge of assisting CDFG in realising its vision and global ambition. CDFG has a great team and I am highly confident of building on their strengths.”

    A CDFG statement said Lee’s broad retail background and portfolio was a strong asset and would bring CDFG to the next level as a top global retailer offering a broad new exciting spectrum of retail experience to customers.

  • China’s Social Consumer Retail Sales Up 10% In October 2016

    China’s Social Consumer Retail Sales Up 10% In October 2016

    China’s social consumer retail sales in October 2016 reached CNY3.112 trillion, representing a year-on-year nominal increase of 10% and actual increase of 8.8% if deducting price factors.

    Meanwhile, from January to October 2016, China’s total social consumer retail sales reached CNY26.96 trillion, a year-on-year increase of 10.3%.

    By location of operating units, China’s urban consumer retail sales were CNY2.689 trillion in October, a year-on-year increase of 10%; while rural consumer retail sales were CNY422.6 billion, a year-on-year increase of 10.3%. During the first ten months of 2016, China’s urban consumer retail sales were CNY23.183 trillion, a year-on-year increase of 10.2%; and rural consumer retail sales were CNY3.777 trillion, a year-on-year increase of 10.9%.

    By consumption type, China’s food and beverage sales in October were CNY349.2 billion, a year-on-year increase of 10%; and commodity retail sales were CNY2.763 trillion, a year-on-year increase of 10.1%. From January to October 2016, China’s food and beverage sales were CNY2.911 trillion, a year-on-year increase of 10.9%; and its commodity retail sales were CNY24.05 trillion, a year-on-year increase of 10.3%.

    In addition, during the first ten months of 2016, China’s Internet retail sales reached CNY3.929 trillion, a year-on-year increase of 25.7%. Of the total, Internet sales of physical goods increased by 24.9% year-on-year to CNY3.174 trillion, accounting for 11.8% of the total social consumer retail sales of China.

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  • Starbucks unveils plans for 12000 new stores over next 5 years

    Starbucks unveils plans for 12000 new stores over next 5 years

    Starbucks said it expects its fast-growing China business could one day eclipse its U.S. market. The company said Wednesday it plans to open 12,000 additional stores globally in the next five years, taking the chain to a total of about 37,000 outlets. Half of the new units will be in the U.S. and China.

    “Our core business has never been stronger in the U.S. and around the world,” Starbucks Chairman and CEO Howard Schultz told analysts at the coffee retailer’s investor day event in New York.

    The CEO also emphasized something he’s said before: “These are the early days of the growth and development of the company. If Starbucks was a 20-chapter book, I still think we’re in chapter 4 or 5.”

    “Demand is there, and our ability to deploy capital and get the return on invested capital is very strong,” Starbucks President and COO Kevin Johnson told attendees. Johnson will become CEO of Starbucks in April, succeeding Schultz, who will continue as the Seattle-based company’s chairman.

    Executives during presentations Wednesday highlighted how the company is focusing on both its flagship Starbucks stores and the higher-end Reserve Roastery and Tasting Room outlets for future growth. The company also has targeted the Reserve Roastery stores, which will sell premium coffee at around $10 a cup, to represent about one-fifth of total outlets by 2021.

    Also, Starbucks plans to open new stand-alone outlets under Princi, a high-end Italian bakery the company invested in over the summer. The bakery will serve pizza and have locations in major markets such as New York, Seattle and Chicago by 2018. Also, Princi food is expected to be offered at all of the company’s new Roastery locations.

    At the meeting, Starbucks presented a five-year strategic plan to grow revenue by 10 percent and earnings per share to 15 to 20 percent. At the same time, the company targeted “mid-single digit” comparable-store sales each year.

    “I know some of you are concerned about the slowdown in U.S. comps, which candidly I don’t share,” Schultz told analysts.

    Schultz said the retailer continues to open 500 to 600 stores annually and the new store performance on a sequential basis has been “better than the year before. There’s no better evidence of the health, the strength, the equity of the brand and the relevance of the Starbucks business.”

    On the international front, Schultz said China is one market that remains particularly attractive for the retailer.

    “Not only will China one day be bigger than the U.S., but our business in China will demonstrate that we will be one of the…most significant winners in terms of a Western consumer brand,” he said.

    Indeed, China remains the company’s fastest growing market and management sees revenue and operating income nearly tripling there over the next five years. The chain is opening a new Starbucks store in China about every 15 hours and will soon reach 2,500 stores in 118 cities.

    “Despite our early success, we are only in the beginning chapters of our growth story,” Starbucks China CEO Belinda Wong told analysts Wednesday. “In the next five years, we’re well positioned to double our scale to 5,000 stores in over 200 cities.”

    Wong said urbanization and an emerging middle class in China will help drive the rapid expansion of the specialty coffee market.

    According to Wong, more than 230 million people in China have been lifted into the middle class in the past decade due to the Asian nation’s booming economy, and over the next six years she said another roughly 300 million people will also attain middle-class status.

    “Coffee consumption in China is currently low, but growing rapidly,” Evercore ISI analyst Matt McGinley said in a research note this week. “On a per person basis, Chinese people consume less than 2 percent of the coffee of U.S. consumers and less than 3 percent of the coffee of Japanese people.”

    The company also said it sees food innovation and its cold coffee beverages as key areas fueling its future growth.

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  • Starbucks and Tencent Announce Strategic Partnership to Launch Social Gifting on WeChat

    Starbucks and Tencent Announce Strategic Partnership to Launch Social Gifting on WeChat

    Starbucks Coffee and Tencent Holdings, a leading provider of internet value-added services in China, today pioneered a strategic partnership to co-create a new social gifting feature on WeChat, China’s leading mobile social communications service, in early 2017.

    This partnership positions Starbucks as the first retail brand to combine and bring a locally-relevant social gifting and digital payment experience to life on WeChat in China. Tapping into the 846 million global monthly active user accounts (as of the third quarter of 2016), the new integrated feature will seamlessly allow customers in China to instantly and conveniently gift Starbucks to a friend or loved one. Beginning today, Starbucks customers will also be able to use WeChat Pay to make purchases at close to 2,500 Starbucks stores across Mainland China.

    “Starbucks and Tencent share similar values to enable greater human connections through our respective products and services, and I am pleased to partner with an established and respected social and mobile industry leader in China,” said Belinda Wong, ceo, Starbucks China. “This new strategic partnership will leverage the strengths of both Starbucks and WeChat to create a true online-to-offline social gifting platform that will deepen our engagement with our customers in a unique and powerful way. Just as Starbucks cards are among the most gifted around the globe, we aspire to also become the most gifted brand digitally in China.”

    “The strategic cooperation between WeChat and Starbucks enables us to bring the unique Starbucks retail experience seamlessly to hundreds of millions of WeChat users in China,” said Allen Zhang, Senior Executive Vice President of Tencent. “We are happy to be the partner of choice of Starbucks and look forward to deepening our connection to our users through the highest-quality services.”

    Starbucks is committed to innovative digital experiences that surprise, delight and deliver an elevated Starbucks Experience for its customers across China. The online social gifting platform is part of the company’s growing digital presence focused on connecting with customers through digital channels, including the Starbucks® Mobile App, the My Starbucks Rewards® program and social media.

    Jointly created by Starbucks and WeChat, the social gifting feature encourages everyday acts of kindness and appreciation among family and friends. Customers will be able to select from Starbucks-branded gifts and products and add a personalized message of love, of gratitude or to simply uplift someone’s day. Recipients of these personal and simple acts of kindness can save their gifts and memories on their WeChat accounts and redeem their gift at Starbucks stores across China to enjoy the unparalleled Starbucks Experience.

    As part of this partnership, Starbucks will introduce the use of WeChat Pay for purchases in its retail stores in a continued effort to elevate the in-store experience for customers. This cash-free digital payment experience, which allows users to pay for their goods and services from their mobile devices, is one of the most popular payment methods in China, with more than 300 million users linking their bank cards with WeChat or QQ, another flagship service of Tencent, as of March 2016.

    Today’s announcement builds on Starbucks rapidly expanding portfolio of digital innovations in China, which integrates the exceptional in-store experience with the digital Fourth Place experience. Earlier this year, Starbucks launched a mobile payment system in China aimed at providing My Starbucks Rewards® (MSR) members access to a fast, seamless and convenient way to pay for purchases, using their pre-loaded Starbucks Gift Card on their mobile devices.

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  • China’s wine imports forecast to grow 25% in 2016

    China’s wine imports forecast to grow 25% in 2016

    The country imported 505 million litres of wines, worth about US$1.9 billion in the first 10 months of the year, a year-on-year increase of 18.01% in value, according to data released earlier by the China Association for Imports and Export of Wine & Spirits.

    The fourth quarter, as forecasted by industry insiders, is expected to continue to grow in both volume and value terms as consumers are likely to stock up on wines for the upcoming Chinese Spring Festival on January 28, as reported.

    A commentator on China’s food industry Zhu Danpeng, however, noted that the growth seen in the third quarter in particular was largely due to importers and retailers underselling their stocks, citing massive price cuts that have been rolled out by retailers, e-commerce shops and restaurants across China since the mid-autumn festival in September.

    A Sichuan-based retailer, 1919 Wines & Spirits, which topped Tmall.com’s top selling wine shop list during its 9 September Wine & Spirits Festival, saw its gross profit drop by about 5% compared with 2015, despite massive increase in sales volumes, Zhu told the newspaper, explaining how the sales increase have driven down profit margins.

    “Sales growth gained by massive price cuts are vicious growth,” he said.

    One company that has reportedly been suffering of late is Dynasty Fine Wines, which, late last month, began selling off vast quantities of top Bordeaux.

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  • Apple China opens seventh Shanghai store this weekend

    Apple China opens seventh Shanghai store this weekend

    Apple China will open its seventh retail store in Shanghai this weekend.

    The new store is located in Vanke Mall in Qibao (pictured below), a popular tourist destination in suburban Shanghai, known for its traditional Chinese architecture.

    vanke-mall-in-qibao

    The store will be the US tech brand’s 489th worldwide

    Apple has already opened 20 new stores worldwide this year, including in Saint-Germain in Paris, Hong Kong and in Zhujiang New Town in Guangzhou, China.

    The store will formally open at 10am Saturday morning.

  • Asian grocery boom predicted by IGD

    Asian grocery boom predicted by IGD

    Asia will continue to be the biggest engine of growth in the grocery market with its sales set to exceed those of Europe and North America combined within five years, according to new forecasts from research organisation IGD.

    Global growth will be driven by a combination of inflation, population and rising incomes.

    Highlights from IGD’s latest global grocery forecasts to 2021 include:

    * Asia’s grocery market is set to increase by $1.073 trillion, an annual compound growth rate (CAGR) of 6.3 per cent.

    * China will extend its lead over the US as the world’s biggest grocery market, with India in third place closing the gap.

    “Although there are several risks to the global economy and a danger of new barriers to trade in particular, we are optimistic these can be surmounted,” says IGD chief executive Joanne Denney-Finch. “We expect all regions to grow their grocery markets over the next five years, presenting big opportunities globally for manufacturers and retailers.”

    Asia’s grocery market will continue to prosper with China remaining comfortably in first place and three other Asian countries within the top 10, Denney-Finch says. “Millions more people across Asia will become middle class, and many more consumer goods companies will view this region as the key to their growth strategy.”

    IGD’s projected figures for 2021 show that China’s grocery market will be worth $1612 billion with a CAGR of 5.5 per cent.

    This compares with a market worth of $1.311 trillion for the US, with a CAGR of 3.6 per cent.

    India comes in third with a $735 billion market and a CAGR of 9.1 per cent.

    Japan is in fifth place after Brazil with a $399 billion market and a CAGR of 0.7 per cent.

    Rounding up the top markets in Asia is Indonesia, in eighth position with a market value of $305 billion and a CAGR of 9 per cent.

    A food and grocery research and training charity, IGD defines the grocery retail market as all food, drink and non-food products – such as health and beauty, pet care, clothing, DIY – sold through retail outlets selling predominantly food. Modern retail formats, such as supermarkets and hypermarkets, are included as well as traditional retail formats like markets and traditional food stores such as bakers. It excludes wholesale and foodservice formats and drugstores/pharmacies.

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  • Amazon Beijing showroom opens at Sanlitun Square

    Amazon Beijing showroom opens at Sanlitun Square

    Continuing its focus on expansion in China, online retailer Amazon has opened a showroom in Beijing’s Sanlitun Square.

    Designed to look like a giant shipping container, the Amazon Beijing showroom displays imported goods from Amazon’s UK and US websites. As well as browsing, testing and consulting experts, customers can buy items via Amazon’s Chinese site by scanning a product’s barcode with their mobile device, reports PYMNTS.com.

    A section of the showroom is dedicated to the Amazon Prime service, which had its China debut in October. Chinese Prime customers are offered free shipping on orders for overseas products with a minimum purchase of US$29.50. Goods sold in China have free shipping. Prime membership is $57 in China, compared with $99 in the US.

    Amazon is the preferred marketplace for Chinese e-tailers seeking to sell internationally, beating out AliExpress by 62 to 40 per cent.

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  • Worldpay predicts credit-card decline

    Worldpay predicts credit-card decline

    Credit-card use in Singapore is set to fall by 40 per cent in less than five years, according to new research from global payment company Worldpay.

    For its Global Payments Report 2016, Worldpay analysed 30 eCommerce markets including Australia, China, Hong Kong, India, Malaysia, Singapore, South Korea and Taiwan. For Singapore, Worldpay found that although credit cards hold a 60 per cent share of the payments market, this is expected to slide to 36 per cent by 2020.

    This is described as a significant drop by Worldpay Asia Pacific GM for global eCommerce Phil Pomford. “This growing credit-wariness could be symptomatic of a wider political push to help consumers avoid debt.”

    He says the Singapore government’s total debt-servicing ratio (TDSR) rules, implemented in 2013, were designed to ensure monthly debt payments do not exceed 60 per cent of a debtor’s monthly income. “This public focus on the issue of debt helps explain why credit-card use is predicted to fall nearly a quarter in less than five years, while debit-card use is expected to rise.”

    For now, debit cards, cash on delivery and bank transfers each account for 9 per cent of the total payments market in Singapore. But Worldpay’s research indicates that all these non-credit payment options will double or nearly double by 2020.

    Debit-card use is expected to double to become 18 per cent of the total payments market, while cash on delivery and bank transfers will represent 18 and 17 per cent respectively. E-wallet growth is likely to remain relatively flat, growing from 9 to 10 per cent share by 2020.

    Growing topic

    Consumer debt has been a growing topic in Singapore over the past few years, says WorldPay, leading the government to introduce regulations to help borrowers pay down their debts and prevent further debt accumulating.

    Worldpay research indicates the government’s program to increase credit awareness and discourage too much borrowing is still resonating with consumers. They are aware of and concerned about rising household debt, and want easier access to non-credit payment options.

    “Our research strongly suggests Singaporeans will start using a wider range of payment methods in the next five years, possibly influenced by the government’s work to reduce consumer debt and encourage Singaporeans to think more carefully before they shop on credit,” says Pomford.

    “Therefore, online merchants wanting to win the hearts and wallets of shoppers in Singapore must offer a range of traditional and alternative payment methods – from debit cards to cash on delivery and bank transfers – because credit cards alone just aren’t enough.”

    Meanwhile, Singapore’s eCommerce market is set to grow by 11 per cent to US$5.8 billion by 2020.

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  • Hyundai joins ITU to help drive connected car standards

    Hyundai joins ITU to help drive connected car standards

    South Korea’s largest automaker Hyundai Motor Company has joined the ITU’s standardization arm (ITU-T) to contribute to creating standards for connected cars.

    As a new member, Hyundai will support the coordinated development of intelligent transport systems that will improve the passenger experience, road safety and reduce traffic congestion and emissions.

    “ITU is well placed to encourage the public-private partnerships required to improve road safety,” said ITU Secretary-General Houlin Zhao. “Joining the ITU membership, Hyundai has entered the company of governments, industry players and academic and research institutes working together to build cohesion in ICT innovation.”

    The ITU has been ramping up efforts in recent years to provide a unique, global platform for automotive-ICT collaboration, which has already sparked the development of a range of ITU standards tailored to the automotive industry.

    “Hyundai Motors is looking forward to participating in ITU and will bring important momentum from the automotive industry to advance the future of connected car technology,” said Eon Youl Shin, Director, Hyundai.

    Hyundai’s participation in ITU will also support the company in building its “hyper-connected intelligent cars” platform, which includes smart remote maintenance services, autonomous driving, smart traffic flow, and a connected “mobility hub” to provide security and data management for connected cars.
    ITU said it will host discussions on the status and future of intelligent transport systems at the Geneva International Motor Show in March 2017 at the Symposium of the Future Networked Car.

    “Standardization will be essential in building a trusted ecosystem of intelligent vehicles,” said Chaesub Lee, Director of the ITU Telecommunication Standardization Bureau. “ITU standardization work is supporting the increasing integration of ICTs in vehicles with road safety and data security as our top priorities.”

    An ITU standard for secure over-the-air software updates for connected cars is expected to be approved in early 2017, and new ITU standards are under development to reduce technology-related driver distraction.

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