Chinese
mobile giant Tencent has proven that smartphone titles in the vein of Nintendo's genre - defining kart racer can be massive financial successes with its recently launched QQ Speed, but we've yet to see if this success can be replicated across a worldwide audience.
Not exact matches
And its global turnover is a drop in the bucket in China, where Internet
giants Alibaba and
Tencent dominate the world's biggest
mobile payments market — with an estimated $ 1 trillion worth of
mobile transactions last year, according to iResearch data.
Most of China's tech
giants, including instant messaging and gaming company
Tencent,
mobile handset maker Xiaomi, portal and microblogging
giant Sina, and the country's video streaming sites YoukuTudou, iQiyi, and LeTV, all have rushed into the rapidly growing space, joining upstarts such as Panda TV, an e-sports streaming app owned by Wang Sicong, the son of Wang Jianlin, China's richest man, a real estate mogul with aspirations in media and entertainment.
It seems that, like the rest of the country's retailers, Walmart had to pick a side between China's two eCommerce
giants: Either
Tencent or Alibaba, both of which have been investing heavily since 2017 in efforts to dominate the
mobile payment market.
As demonstrated by the far - reaching success and impact of Chinese Internet companies — such as e-commerce
giant Alibaba's record - breaking «11.11 Singles» Day» sales of over US$ 17 billion, as well as the incredible saturation of over 700 million active users achieved by
Tencent's messaging and social networking platform, Wechat, and its new
mobile payment system, WePay, to name a couple — in many respects, China's
mobile and digital infrastructure has surpassed the systems available in many economies, including those in Canada.
Last year, the Chinese Internet
giant Tencent bought Supercell, the Finnish maker of the popular
mobile game «Clash of Clans» for $ 10.2 billion from the Japanese group SoftBank.
Despite
Tencent's efforts, the biggest success story in the casual
mobile eSports sector is
Giant Interactive's «Battle of Balls».
After plenty of rumors surrounding Chinese smartphone maker Xiaomi concerning its collaboration with Internet
giant Tencent and the imminent release of a Red Rice phone — which will be the lowest - priced in its range — the phone has indeed been unveiled today at a joint announcement with
Tencent and China
Mobile.
Chinese Web
giant Tencent led a $ 80 million round of funding for the Korean
mobile app company in April.