ByteDance is preparing a major push into the mobile arena’s most lucrative market, a realm Tencent Holdings has dominated for over a decade: games.
Tencent Holdings analysts, who have a history of being too bullish, have now been caught off guard by a rally that’s gathering pace in Asia’s biggest stock.
China’s technology industry enters a new year after weathering unprecedented turbulence in 2019, when giants emerged in social media and artificial intelligence only to bear the brunt of Washington.
A consortium led by China’s Tencent has agreed to buy 10% of the world’s biggest music company, Universal Music Group, from Vivendi after months of talks.
China’s ByteDance created one of the country’s rare global hits with the addictive video app TikTok. Now the US government is threatening that success as officials in Washington warn the service presents a security threat.
Naspers unlocked about R150-billion of value for shareholders through the separate listing of its Internet businesses, and with that done is now focusing on bulking up in online food deliveries.
While the US-China trade war rages on, the tensions are exposing growing rifts between China and Silicon Valley.
Tencent posted quarterly earnings that missed the lowest analyst’s estimate after a weakening economy hurt advertisement revenue.