• Tencent, Baidu also developing their own home assistants
  • The Tmall Genie will sell for 499 yuan during its trial period

The competition in digital speaker-assistants is getting more intense, as Alibaba Group Holding Ltd. unfurled an Amazon Echo-like device and fellow Chinese internet giants Tencent and Baidu prepare to develop their own.

Alibaba’s “Tmall Genie X1” will go for 499 yuan ($73) to the first 1,000 people during a one-month trial, coming in below Apple’s $349 HomePod and the roughly $180 Echo. Its biggest competitor, Tencent Holdings Ltd., is developing a voice-activated digital speaker that could hit the market within months, Tencent President Martin Lau said in a May interview. And on Wednesday, Baidu Inc. showed off its…