Its gaming titles such as Honour of Kings and Peacekeeper Elite as well as video streaming services saw an uplift in downloads as China’s government urged millions of people to stay at home and away from crowded places to curb the virus’ spread. He has been working in the publishing industry for over 5. Surjo Das is a Digital Media Publisher and freelance copywriter. profile tencent 900b wechat 259bstreetjournal Technology.
In a fourth-quarter earnings report that struck a cautious tone over the impact the epidemic would have on its business, Tencent was more optimistic than most businesses have been. Profile of Tencent, China’s most valuable company at 900B, with a powerful ecosystem including WeChat.
Tencent's businesses are mainly online, positioning it uniquely against other tech giants such as Alibaba Group Holding Ltd BABA.N that focus on e-commerce and whose supply chains have been severely disrupted by the outbreak which began in China. Chinas gaming and social media group Tencent Holdings Ltd <0700.HK> said on Wednesday the coronavirus outbreak has driven up traffic to its WeChat platform and other services, though it has not.WeChat has in excess of one billion users.FILE PHOTO: People visit Tencent's booth at the World 5G Exhibition in Beijing, China November 22, 2019. 5) that Tencent resumed signing up new users for its WeChat messaging app following a suspension over technical upgrades.
The penalty is anticipated to be lower than than the historic $2.75 billion fine imposed on Alibaba.īloomberg reported on Thursday (Aug. By successfully turning the WeChat messaging app into an everyday payment tool, Tencent more than quadrupled its mobile payment market share to 37 in the fourth quarter from just 8. Related news: Chinese State Media Prompts Tencent To Impose Gaming RestrictionsĬhina is in the midst of hitting Tencent with a fine as regulators in the country continue cracking down on technology companies for violating antitrust laws and other concerns. In China’s massive mobile payment market, WeChat operator Tencent is nearly catching up with Alibaba’s affiliate Alipay, the market leader. Read more: China’s WeChat Turns Away New Users While Meeting Mandated UpgradesĮarlier this week, Tencent curtailed the amount of time youth could spend online playing its flagship game "Honor of Kings." The game was called out in the press as being a "spiritual opium.” Regulators in the country have said they are striving to better protect minors online, a sentiment that aligns with state media criticisms over gaming and celebrity culture. WeChat’s alternate mode for young people is supposed to limit game exposure, as well as other functions such as payments and the location-based friend finder. The news first came to light following a story posted on, a website run by China’s leading prosecutor, per Reuters. See also: Chinese State Media Prompts Tencent To Impose Gaming Restrictions It’s not exactly known how the app violated the law, but the suit was nonetheless filed by Beijing’s Haidian District People’s Procuratorate. The WeChat app’s "youth mode" apparently is not in line with Chinese laws that aim to protect minors. Shenzhen-headquartered Tencent is being slapped with a lawsuit over its WeChat subsidiary and regulations concerning minors, Reuters reported on Friday (Aug. Chinese tech giant Tencent Holdings Ltd said a company executive is being investigated by authorities over allegations of 'personal corruption', after a media report said the move was linked to.
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