All publications by tag «tencent»
Report: Tencent employees facing mass layoffs as latest lockdowns affect Chinese tech giants’ earnings
Chinese tech companies have been conducting staff cuts, according to the latest reports. Tencent is one of the firms to lay off employees at several departments amid regulatory pressure and the impact of the latest lockdowns.
Tencent reports no revenue growth, as gaming crackdown in China affects active player base
Tencent has released its financial report for the first quarter of 2022 (ended March 31). The Chinese tech giant recorded no revenue growth, citing a decrease in its domestic player base due to the latest game-related restrictions in the country.
Total time underage players spent in Tencent games reduced by 88% after implementing new restrictions
Tencent has shared the results of its efforts to create the so-called healthy gaming environment. The Chinese tech giant noted how the latest restrictions implemented last year helped reduce total time spent by minors in its titles.
David Jaffe turned down opportunity to direct $100 million budget game because he didn’t want to deal with Tencent
Prominent game designer David Jaffe, known for his work on series like God of War and Twisted Metal, has claimed that Tencent once wanted him to direct a game with a $100 million budget. However, he refused to partner with the Chinese tech giant.
Tencent named top mobile publisher by consumer spend in 2021, outshining NetEase and Activision
data.ai has revealed the winners of its Top Publisher Award 2022, sharing a list of 52 companies ranging by global consumer spend over the last year. The ranking includes publishers like Tencent, Activision Blizzard, miHoYo, and NetEase.
Investors concerned that China’s government might split up Tencent into separate companies
Tencent has been facing a lot of restrictions from Chinese authorities during the last few years. In the wake of the ongoing tensions, investors are concerned that the government might want to break up the tech giant.
Tencent reports gaming revenue of $32 billion for 2021, showing slowest growth since going public
Tencent has released its report for the fiscal year ending December 31, 2021. The tech giant still remains the largest game company by revenue, although domestic restrictions continue to slow down its growth.
Tencent faces tens of millions of dollars in fines for violating China’s anti-money-laundering law
The regulation of tech companies in China is getting tougher as Tencent is now facing a potential fine for breaching the central bank’s compliances. It is suspected of allowing money-laundering schemes using WeChat.
Remedy signs development and distribution agreement with Tencent for online shooter Vanguard
Remedy Entertainment has signed a development, license, and distribution agreement with Tencent. The Chinese giant will co-finance the production of PvE shooter codenamed Vanguard and localize it for the selected Asian markets.
China’s regulator allows Tencent to update nine apps again, just three weeks after crackdown
Tencent has managed to partly settle its tensions with the Chinese regulators. Although the tech giant will be able to release updates for several mobile apps from its catalog, it is unclear whether the restriction on the release of new products will remain valid.
Tencent becomes Bloober Team’s largest shareholder by acquiring 22% of its shares for $19.5 million
Tencent continues to invest in Western developers by acquiring 21.97% of Bloober Team shares for PLN 77.6 million ($19.5 million). The deal makes the Chinese tech giant the biggest shareholder of the Polish studio.