Some of China’s biggest gaming firms experienced a 10 percent decline in shares on Tuesday, after being labelled as “spiritual opium” by a state-owned media outlet. China’s largest social media and video games firm Tencent recorded a plunge of 10 percent during early trade, while NetEase lost as much as 14 percent in Hong Kong; […]
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Shares in Shenzhen-based media titan Tencent tumbled on Monday following China’s verdict to restrict its private music licensing deals with record labels around the globe, halting the platform’s efforts to show sovereignty over online music streaming in the country. On Saturday, China’s State Administration of Market Regulations (SAMR) announced that the firm is not abiding […]
Tencent revealed on Monday plans to acquire British video game company Sumo Group in a $1.27 billion deal, raising Sumo’s last closing price. The Chinese titan already owns 8.75 percent of the company’s stake, and with this purchase it will increase Sumo’s last closing price by offering a premium 43 percent rise, according to Games […]
Tencent Cloud, the cloud division of Shenzhen-based tech giant Tencent, announced Sunday the launching of its first Internet Data Center (IDC) in Indonesia to meet the growing regional demand for cloud services. With the opening of its Jakarta center, Tencent Cloud adds to its global footprint with an infrastructure network that now spans across 27 […]
TikTok parent company ByteDance announced on Monday that its video games arm, Nuverse, has acquired China-based Mooton Technology, as the company looks to further expand within the gaming industry, Reuters reported. ByteDance’s desire to bolster its position within the video gaming industry, places it directly in competition with China’s largest social media and gaming company […]
Japanese e-commerce giant Rakuten sold on Monday 13 percent of its shares, worth $2.2 billion, to several new investors, as the company attempts to strengthen its balance sheet, while rolling out a more aggressive mobile strategy. The new investors into Rakuten are Japan Post – the country’s largest insurer and bank by deposit, as well […]
ByteDance faces potential ban as U.S. House votes to divest TikTok's U.S. assets. A move that will impact the video app in the future.
The introduction of OpenAI’s text-to-video model, Sora. On the 16th of February has made China question itself and the tech gap.
In an almost comically predictable turn of events, a data breach so immense, has been dubbed the ‘Mother of All Breaches’ (MOAB).
Tencent’s announcement yesterday that they intended to take palm scanning mainstream has early adopters swooning about convenience and late adopters frowning about security risks and surveillance. The tech itself was deployed by Kodak forty years ago and companies that use it today include Amazon and duty free retailers in some US airports. But now China-based […]