The operations of Microsoft Online in Chinese mainland have been in the red since 2012. (Photo : Getty Images)
In a filing to a local equity exchange market, a Chinese firm stated that it plans to sell its 50 percent share in Microsoft Corp.'s online businesses in Chinese mainland.
The online operation of the global tech powerhouse continues to "bleed money," according to China Daily.
The state-owned Shanghai Alliance Investment Ltd., which owns half of Microsoft Online, revealed that the stakes it is selling are worth around 230 million yuan, the filing stated.
Formerly known as MSN China, Microsoft Online runs different businesses for the U.S.-based software giant. These include the search engine Bing, video chat platform Skype, and online advertising.
Since it was put up about a decade ago, the firm has continuously faced difficulties in recent years in maintaining its profitability.
According to a financial report received by the Shanghai United Assets and Equity Exchange, Microsoft Online has incurred a net loss of 300 million yuan in December last year.
The Chinese operations of the giant has been in the red for the past two years. In 2012, it posted a net loss of 28 million yuan.
According to the Shanghai United Assets and Equity Exchange, the potential buyer of the share should be a firm registered in Chinese mainland, and its 2014 net asset should at least be 1 billion yuan.
As of writing, no buyer has publicly announced interest in the 50 percent Microsoft Online share.
Meanwhile, Microsoft has unveiled a new fund for startups eyeing to provide low-cost Internet access in November last year. The endeavor caters to underserved markets throughout the globe.
According to a TechCrunch article, the fund is a means by which the firm reaches out to people who seek for "last-mile access technologies, cloud-based services and applications, new payment mechanisms, and other innovative business models" for easier Internet access.
The fund, which is part of the firm's Affordable Access Initiative, is open to commercial firms with at least two full-time employees who already have a working solution to the issue of Internet access.
