By Paul Carsten BEIJING (Reuters) – Tencent Holdings Ltd, Chinas biggest listed tech firm, is ratcheting up its profits on smartphones as it transplants its strength in social networking and gaming onto mobile. At the moment, Shenzhen-based Tencent makes most of its money from the division which includes its video gaming business and sales of digital goods. But Tencent has already spent more than $1.2 billion in areas like e-commerce, real estate and digital mapping since the beginning of 2014, as it looks to develop mobile messaging app WeChat – Weixin in Chinese – as a gateway for all users needs on a smartphone. Worth over $120 billion by market value, Tencent is Chinas largest listed tech firm and has become the biggest potential rival to Alibaba Group Holding, the Chinese e-commerce giant readying itself for a blockbuster U.S. listing.
China’s Tencent looks to replicate mobile gaming success for e-commerce
14
May
2014
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