Tom Online has announced plans to make some adjustments on the framework of its portal website and shift from a content based media to a product and function based service provider, a move destined to have Tom Online completely give up the news portal business.
Local media discloses Tom Online's adjustment is made to coordinate with the future planning of the products on its Tom.com website. It will still reportedly continue to invest in products with great competitiveness and focus on the integration of trans-industry products and services.
Tom Online is a service of Tom Group. Because of the decline of its core telecom value-added service, in September this year, Tom Group spent HK$1.57 billion on having itself privatized and had it withdrawn from Hong Kong and the U.S. markets.
That lack of competitiveness is a reason for Tom Online's abandoning of the news portal business.