Chinese Gaming powerhouse Tencent losses $14 billion after India bans PUBG

NEW DELHI: A day after the Indian government banned 118 China apps, including the ban on widely popular battle royal — PUBG Mobile, the Chinese gaming and social media powerhouse Tencent lost $14 billion in market worth and its offers fell 2% on Thursday, snapping two straight meetings of addition.

Notably, India, is PUBG Mobile’s biggest market accounting for over 175 million installs. The battle royal has seen a revenue generation of over $1.3 billion (roughly Rs 9,731 crore) in the first half of 2020, that brought its lifetime earning to $3 billion (nearly Rs 22,457 crore). Tencent’s market value was on its way of the boom, right before India pulled the plug on the app.

The list of 118 generally Chinese applications likewise incorporates those from Baidu and Xiaomi’s ShareSave, as India ventured up pressure on Chinese innovation firms following a standoff with Beijing at the border. 

The move comes in the midst of new border strains with China in Ladakh when India thwarted rehashed endeavors by Chinese soldiers to violate into the Indian side of Line of Actual Control (LAC) with goals to singularly change business as usual. 

Earlier on June 29, the government had banned 59 Chinese apps, including hugely popular TikTok and UC Browser, saying they were prejudicial to sovereignty, integrity and security of the country.

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