![]() ![]() In 2019, China Mobile’s performance was not as good. In 2018, Tencent took the initiative to adjust its organizational structure, mainly to fuse artificial intelligence, big data and cloud computing, which, the company believes, will have far-reaching implications in the future. SEE ALSO: Tencent Share Price Falls Below HK$250, A New Low Its revenue proportion of mobile and telecom value-added services dropped to 8.6% with the main revenue being derived from Internet value-added services (mainly game business). In 2012, Tencent finally removed itself from its dependence on China Mobile. ![]() At that time, WeChat had more than 400 million Chinese users and more than 100 million overseas users. However, Feiliao ceased operations in July 2013. In contrast to WeChat, Feiliao used a mobile phone number as user identification, which can interact with SMS. Eight months later, China Mobile launched Feiliao. In January 2011, Tencent launched WeChat using QQ as its model, and its core function is to support the rapid exchange of short messages, videos, pictures and texts across communication operators and operating systems. The revenue of Internet value-added services was 439 million yuan, accounting for 38.39%. In 2004, Tencent ‘s revenue was 1,143.5 million yuan, and its mobile and telecom value-added service revenue totaled 641.2 million yuan, accounting for 56.07% of total revenue. However, the company hasn’t completely shaken off its dependence on China Mobile. Since 2002, Tencent has developed fast and in June 2004, it went public in Hong Kong. At that time, China Mobile had become the largest mobile communication operator in the world with an annual income of 134.68 billion yuan. At the end of 2001, Tencent ‘s annual revenue reached 50 million yuan ($6.88 million). At the end of 2000, China Mobile launched a business plan to build a bridge between service providers and users.Īt that time, Tencent, which held hundreds of millions of users, quickly cut into the field of mobile and telecom value-added services, and made use of its relationship with China Mobile to become a service provider. ![]() Tencent ‘s first rapid development period was helped by China Mobile. For example, both of them focus on people’s information exchange, and they are inextricably intertwined in the development process of the past 30 years. In fact, China Mobile and Tencent have many similarities. Previously, its share price traded as high as HK $758.9 in February 2021, with a market value of over HK $7 trillion. Īs of the close of October 24, Tencent ‘s stock price fell 11.43% to HK $206.2. The State Internet Information Office said Thursday that the real-name registration is being instilled to “further promote the healthy and orderly development of public information services, protect the legitimate rights and interests of citizens, legal persons and other organizations, and safeguard national security and public interests,” according to Public Radio International.On October 24, news emerged that China Mobile, a multimedia service provider through its nationwide mobile telecommunications network, might take a stake in Chinese tech giant Tencent, which was subsequently denied by Tencent. The rule has been portrayed as a direct reaction to WeChat, which has morphed into an all-encompassing juggernaut that provides gaming, mobile payments, and an array of services along with voice and chat messaging. ![]() Tencent's robust growth hasn’t gone unnoticed by the Chinese government, which has issued a new rule forcing all messaging app companies to require users to register with their real names. While the two companies began in different sectors, they have been increasingly battling for dominance in the world's largest Internet market by users, the Wall Street Journal noted. The company's strong results beat analysts' expectations and further signal that it has positioned itself as a chief rival to Chinese e-commerce giant Alibaba Group Holding Ltd., which is preparing to unveil a huge initial public offering this fall. Revenue rose 37 percent to 19.75 billion yuan. When the Shenzhen-based company reported 300 million users last year, it stipulated that 70 million were located outside China.įor the three months ended June 30, Tencent said its net profit rose to 5.84 billion yuan ($947 million) from 3.68 billion yuan a year earlier. The mobile text and voice messaging app, which has helped drive users to Tencent's mobile games and paid services, is available on Android, iPhone, BlackBerry, Windows Phone and Symbian products. The number of WeChat users has skyrocketed by 57 percent from a year earlier to 438.2 million users, the company said Wednesday. (OTC:TCEHY) posted a 59 percent jump in its second-quarter net profit, in no small part because of the explosive growth of WeChat, China's most widely used mobile instant-messaging service. WeChat is the most popular mobile messaging app in China WeChat ![]()
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