[ET Net News Agency, 18 July 2018] Nomura cut its target price for Kingsoft Corporation
(03888) to HK$28 from HK$29, and reiterated its "buy" rating.
The research house said its industry checks saying that Kingsoft's highly anticipated JX
Mobile III is now tentatively slated for release in October, which is in line with
Nomura's earlier anticipation (towards late-2018).
Tencent will likely release the Kingsoft-produced JX Mobile II in late August. To avoid
competition between JX Mobile II and JX Mobile III, Nomura thinks it makes sense to launch
JX Mobile III at a later date.
Despite the delay, we remain positive on the outlook for JX Mobile III, backed by the
famous IP it adapts from. (KL)