Tag: tencent

Meta to Make Comeback in China? Company Closing In on Deal With Tencent to Sell MR Headsets
11Nov By adminNo Comments
Technology

Meta to Make Comeback in China? Company Closing In on Deal With Tencent to Sell MR Headsets

[ad_1]  Meta Platforms Inc. is close to reaching a deal that will bring its mixed reality headset to China through a partnership with Tencent Holdings Ltd.Under the agreement, Tencent would manufacture a version of a headset using Meta's hardware specifications and software, a person familiar with the conversations said, asking not to be identified because the information isn't public. The headset is proposed to be branded and marketed under the Tencent name, the person said, while cautioning that talks aren't finalized, the plan could change and a decision hasn't been made on the name or branding. Meta didn't respond to a request for comment. Tencent didn't immediately have a statement. The Wall Street Journal earlier reported that Meta plans to sell virtual-reality headsets in China w...
Read More
Why Musk’s ‘X’ will struggle to become a Chinese-style super-app
27Jul By adminNo Comments
Technology

Why Musk’s ‘X’ will struggle to become a Chinese-style super-app

[ad_1] Elon Musk is rebranding his Twitter platform as "X" and wants to create a super-app where users will do all their finances as well as their socialising.His inspiration is China's WeChat, which dominates the Chinese internet with chat, payments, games and a host of other functions in its walled garden. Musk has hinted that this kind of "everything app" is his goal for the X platform but experts reckon he will struggle. - What is WeChat? -The app was launched by China's big tech behemoth Tencent in 2011 to replace an earlier desktop chat program called QQ.It is used by almost everyone in China and weaves together messaging, voice and video calling, social media, mobile payment, games, news, online booking and other services.It passed the one-billion-account mark in 2018, with most ...
Read More
ByteDance’s Profit Surges 79%, Exceeding Alibaba and Tencent: FT
10Apr By adminNo Comments
Technology

ByteDance’s Profit Surges 79%, Exceeding Alibaba and Tencent: FT

[ad_1] ByteDance Ltd.'s profit last year soared to a record, surpassing that of China technology giants Tencent Holdings Ltd. and Alibaba Group Holding Ltd. for the first time, the Financial Times reported.Earnings before interest, tax, depreciation and amortization, or Ebitda, jumped 79% to about $25 billion in 2022, the report said, citing two investors briefed on the numbers. Tencent reported Ebitda of 164 billion yuan ($23.9 billion) for 2022 in its preliminary earnings statement, while Alibaba's figure for the same period is about $22.7 billion, according to Bloomberg-compiled data. Bloomberg reported last week that ByteDance's revenue surged more than 30% to surpass $80 billion in 2022, matching the tally at archrival Tencent, after twin video platforms TikTok and Douyin drew eyeb...
Read More
China’s video game makers come in from the cold as crackdown eases
22Jan By adminNo Comments
Technology

China’s video game makers come in from the cold as crackdown eases

[ad_1] China's end to a sweeping crackdown on its video games market is expected to breathe life back into the battered industry this year. China's end to a sweeping crackdown on its video games market is expected to breathe life back into the battered industry this year, but remaining restrictions on some content and economic headwinds will limit the extent of the recovery. Beijing's tough curbs in 2021 laid waste to the once-booming industry, shaving over half of the market value of sector leaders like Tencent Holdings and NetEase Inc and shrinking the world's biggest gaming market for the first time. Shares of Tencent, the world's largest gaming company, and NetEase rose this week after China's video games regulator granted the first gaming licences in 2...
Read More