Caught out by the online shopping craze
By Meng Jing | China Daily | Updated: 2015-08-25 07:38
When Huang Guangyu, the former chairman of GOME Electrical Appliances Holding Ltd, went to prison in 2008, the most popular mobile phone in China was Nokia.
Seven years later, Nokia is no longer a major player after being bought by Microsoft Corp in 2013, and now smartphones such as Apple Inc's iPhone dominate the market.
For Huang, understanding how smartphones can change a business will be crucial when he is finally released from prison. But then, the online sector has revolutionized the way people shop. Below are the major online changes that Huang has missed since being locked up in prison:
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