Chinese Tech Giant Tencent Restructures After 6 Years
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Tencent, one of China’s leading internet companies, has announced this week that it will be consolidating three of its content business groups into one unit. Restructuring for the first time in 6 years, it will also be creating a new group for cloud and smart industries.
It is said that the firm had been prompted to restructure due to tightening government regulations, particularly on video games which caused a dip in the company’s quarterly profit for the first time in 13 years.
The move is also expected to improve the cloud-based data services, and boost content offering capabilities for messaging and entertainment services.
Source: Reuters