There has been a lot of press lately about Qihoo (NYSE:QIHU), a Chinese antivirus company that's recently entered Baidu's (NASDAQ:BIDU) turf by introducing its own browser and search engine. Baidu has had a long healthy run of being the "big fish," but things may be changing for the company.
Chinese search companies met today with a government-sponsored trade group to discuss a code of conduct for the search market, the end result being an agreement to "maintain fair competition and a fair and orderly market environment."
With Qihoo dominating 8% of the search market in less than a year after launch, this small company is nothing to laugh at. Now that it knows the government will support a competitive search landscape, rather than tacitly backing Baidu's monopolistic success, that 8% could get a lot larger in a short scale of time. Fool.com analyst Lyons George has the full scoop on the big fish vs. the little fish in the video below.