Tencent feels heat from gaming rivals Alibaba, ByteDance and Genshin Impact maker miHoYo

//Tencent feels heat from gaming rivals Alibaba, ByteDance and Genshin Impact maker miHoYo

Tencent feels heat from gaming rivals Alibaba, ByteDance and Genshin Impact maker miHoYo

Tencent Holdings, the world’s largest video games company by revenue, saw remarkable growth in 2020, but it now finds itself on the defensive, trying to tap into new gaming genres as large tech rivals and gaming upstarts chip away at its empire.The Shenzhen-based company, which gets a third of its revenue from gaming, invested in 29 video game companies last year, three times more than in 2019. Tencent also pulled in more than US$2.6 billion from each of its two biggest mobile games, PUBG…

Article by [author-name] (c) South China Morning Post - Read full story here.

By | 2021-01-10T22:30:14+00:00 January 10th, 2021|Technology|Comments Off on Tencent feels heat from gaming rivals Alibaba, ByteDance and Genshin Impact maker miHoYo