Chinese Tech Giant Tencent Restructures After 6 Years

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

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