Tencent's Overseas Ambitions Faces Resistance From India: Report

Tencent's Overseas Ambitions Faces Resistance From India: Report
  • India blocked a popular battle-royale format game from Tencent Holding Ltd TCEHY backed Krafton Inc over data sharing and mining concerns in China, Reuters reports.
  • India removed the Battlegrounds Mobile India (BGMI) app from Alphabet Inc's GOOG GOOGL Google Play Store and Apple Inc's AAPL App Store on July 28.
  • Also Read: Sea's Management Investors Smell More Trouble Post India Ban Triggered Selloff
  • The removal of BGMI, which had over 100 million users, follows its 2020 ban of another Krafton title, PlayerUnknown's Battlegrounds (PUBG).
  • The PUBG crackdown was part of India's ban of over 100 mobile apps of Chinese origins following a months-long border standoff.
  • The ban expanded to cover over 300 apps, including Sea Limited's SE popular gaming app 'Free Fire.'
  • The Chinese gaming companies focused on overseas expansion to beat the heat of the domestic regulatory crackdown.
  • Chinese gaming companies heaved a sigh of relief as the country indicated signs of ease down on its sweeping crackdown on the sector.
  • Price Action: TCEHY shares traded lower by 1.05% at $40.50 in the premarket on the last check Friday.

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