After gaining the huge popularity in China, Xunlei has been planning to roll out its cloud service to overseas markets. And Thailand is set to be the next market.
Xunlei has reaffirmed its ambition in overseas expansion when CEO Lei Chen attended the Boao Forum for Asia, the annual conference from April 8 to 11 which brings together global political leaders, business leaders, economists, and academics in Hainan, China. As he noted in the last earnings call in March, the countries participating in China’s ‘One Belt One Road’ initiative – which covers Thailand and other ASEAN countries – would be the highest priority. Early this year, OneThing Cloud device received EC and FCC certification and had been sold in Hong Kong.
Upon the invitation of Thai government, Xunlei CEO met with key government ministries and agencies in Bangkok in early April, including Vice Minister for Digital Economy and Society, Deputy Governor of Bank of Thailand, President of the Stock Exchange of Thailand, Advisor to the Minister of Finance and senior executives at CAT Telecom, a state-owned telecommunication operator in Thailand.
The blockchain-friendly environment in Thailand appeals global tech firms like Xunlei. Thai government has launched a series of incentives, including corporate income tax and certain import duties exemption or reduction, to attract more foreign investment in high-tech industries. Thailand is also planning to implement blockchain initiatives in the public sector. According to Thailand’s local newspaper Bangkok Post, Thailand Post intends to use blockchain to track the delivery of high-value parcels, such as luxury items.
“The government is looking to the collaboration with Xunlei in cloud computing and blockchain spaces,” said a representative from Thai government according to media reports.
Thai government has invited Xunlei to participate in two main digital projects, Digital ID System and Smart City. Built upon Xunlei’s proprietary blockchain infrastructure, the company looks forward to working together with Thai government in leveraging its high-peformance yet stable concurrent processing capability to record, analyze and manage billions of data points more efficiently. Thai government also expected that Xunlei’s multifunctional cloud storage device Onething Cloud can meet the rising demand for digital entertainment content storage and sharing among 30 million internet users in Thailand.
The Nasdaq-listed firm launched Onething Cloud last August, which it says collects idle bandwidth, storage, and computing resources at user’s homes, and transforms them to enterprise-level cloud computing services. In China, with over a million personal devices that can share bandwidth among the cloud computing infrastructure, Xunlei provides content delivery network (CDN) services for some of largest video streaming, gaming and intelligence software companies: XiaoMi, iQIYI, PandaTV, Kuaishou and other top internet companies. As of end March, Onething Cloud has received over 35 million pre-orders with 100% user satisfaction rate recorded in its third-party online distributor JD.com.