2024-08-20
Shanghai's nightlife hub INS is going to be plastered with Black Myth Wukong's poster by tonight... What a day it has been for Chinese gaming industry. State media, international media, everybody is covering this game. #BlackMythWukong
Bloomberg
Chinese-made, Tencent-backed game Black Myth: Wukong became Steam's second most popular title ever within hours of its launch, gaining 2.1M+ concurrent players
- The made-in-China blockbuster surpasses Cyberpunk play record — Monkey King epic on track to set records for concurrent gamers
2024-05-15
My latest: Huawei flagship store surge in China signals showdown with Apple Huawei opened four flagship stores in top cities between Dec and Feb, an aggressive marketing blitz by a company that had largely relied on licensed distributors before. 1/ https://www.reuters.com/...
Reuters
Huawei is revamping its retail strategy and aggressively opening flagship stores in China, opening four such stores between December 2023 and February 2024
Josh Ye / Reuters :
2024-05-14
Just in: Tencent posted a 6% rise in first-quarter revenue on Tuesday, beating analyst expectations. The operator of the WeChat messaging platform said revenue reached 159.5 billion yuan ($22.04 billion) for the three months ended March 31. [image]
Bloomberg
Tencent reports Q1 revenue up 6% YoY to ~$22B, above ~$21.95B est., and net profit up 62% YoY to ~$5.8B, above ~$4.8B est., boosted by new WeChat monetization
Zheping Huang / Bloomberg :
2024-04-10
BREAKING: Microsoft and NetEase to relaunch Warcraft game in China, ending feud - Reuters News The two companies said in press release on Wednesday that they are working to bring Blizzard games back to the world's second-largest economy, starting this summer. [image]
Reuters
NetEase and Microsoft say they plan to bring World of Warcraft and other Blizzard games back to China after a feud ended the 14-year partnership in January 2023
Chinese video games giant NetEase (9999.HK) said it is working with Microsoft (MSFT.O) to bring popular games including …
2024-02-22
China's Lenovo, the world's largest maker of personal computers, on Thursday reported October-December revenue of $15.72 billion, up 3% from the same period a year earlier. The result compared with the $15.25 billion average analyst estimates. 1/ https://www.reuters.com/...
Reuters
Lenovo beats estimates with Q3 revenue up 3% YoY to $15.72B after 5 quarters of decline and net income down 23% YoY to $337M; services revenue up 10% YoY to $2B
Josh Ye / Reuters :
2024-02-07
Zhang posted on her personal social media account on WeChat that she was resigning from the position, in a move confirmed by ByteDance. Zhang, who has worked at ByteDance for 10 years, has been a core leader for the company. [image]
Bloomberg
Douyin CEO Kelly Zhang steps down; a source says ByteDance will not seek to appoint a successor and Zhang will shift her focus to the video-editing app CapCut
Bloomberg :
Zhang said that she would be joining the team of Jianying, a video editing app owned by ByteDance (CapCut's sister app in China), but she did not reveal her position at the unit. She said she would help grow the product in the age of AI. [image]
Bloomberg
Douyin CEO Kelly Zhang steps down; a source says ByteDance will not seek to appoint a successor and Zhang will shift her focus to the video-editing app CapCut
Bloomberg :
2024-02-06
While “Elden Ring” was designed as a premium game, Tencent wants a free-to-play, open-world game with in-app purchases like “Genshin Impact”. (With gacha mechanics.) But the design of “Elden Ring” is so at odds with Tencent's vision that the progress is still at demo stage. 2/
Reuters
Sources: Tencent plans to adapt acclaimed role-playing console game Elden Ring into a mobile version, after acquiring licensing rights from FromSoftware in 2022
China's Tencent Holdings (0700.HK) has been working to adapt acclaimed action role-playing console game “Elden Ring” …
Tencent has had issues with adapting big console games for smartphones. It axed a project based on the “Nier” franchise in Dec over monetization concerns, as I reported last week. Slowing growth and hefty royalty fee now make IP games hard to profit. 3/ https://www.reuters.com/...
Reuters
Sources: Tencent plans to adapt acclaimed role-playing console game Elden Ring into a mobile version, after acquiring licensing rights from FromSoftware in 2022
China's Tencent Holdings (0700.HK) has been working to adapt acclaimed action role-playing console game “Elden Ring” …
My latest: Tencent has been working to adapt “Elden Ring” into a mobile version, three people familiar with the matter said, as it searches for a new hit. Tencent acquired the licensing rights in 2022 and set up a small team to work on a prototype. But progress has been slow. 1/ [image]
Reuters
Sources: Tencent plans to adapt acclaimed role-playing console game Elden Ring into a mobile version, after acquiring licensing rights from FromSoftware in 2022
China's Tencent Holdings (0700.HK) has been working to adapt acclaimed action role-playing console game “Elden Ring” …
2024-02-05
Huawei uses one facility producing both its Ascend Al chips and the Kirin chips that power its rival to Apple's iPhone, three people said, two of whom said output has been hamstrung by a low yield rate - a proxy for production quality. But a global race for Al functionality amid...
Reuters
Sources: soaring appetite for its AI chips and manufacturing constraints have forced Huawei to prioritise AI and slow production for its premium Mate 60 phones
Worth a read. Al chip demand forces Huawei to slow smartphone production Soaring appetite for Huawei's AI chips coupled with manufacturing constraints has forced the Chinese tech giant to prioritise AI and slow production for its premium Mate 60 phones, sources said. 1/ [image]
Reuters
Sources: soaring appetite for its AI chips and manufacturing constraints have forced Huawei to prioritise AI and slow production for its premium Mate 60 phones
2024-01-29
China has approved more than 40 artificial intelligence (AI) models for public use in the first six months since authorities began the approval process, as the country strives to catch up to the U.S. in AI development, according to Chinese media. Chinese regulators granted... [image]
Reuters
Chinese state media: China has approved more than 40 LLMs for public use since authorities began the approval process in August 2023; 14 were approved last week
China has approved more than 40 artificial intelligence (AI) models for public use in the first six months since authorities began …
2024-01-08
My latest: EXCLUSIVE -China removes official after video games rules spark turmoil -sources - Reuters News China removed an official at a government body overseeing its press and publications regulator, five sources who were briefed on the matter said, days after Chinese gaming... [image]
Financial Times
Sources: China acts to ease fears of a regulatory crackdown on its video game industry, including firing an official and convening consultations on new measures
Qianer Liu / Financial Times :
2023-12-22
Wow Tencent is down 13% and NetEase is down 24% Now it's looking like ByteDance was a prophet by killing its gaming business just last month. [image]
Bloomberg
China publishes draft rules for online gaming, including setting spending limits and banning daily login rewards; stocks for Tencent and NetEase both drop 10%+
- Tencent, NetEase shares dive in Hong Kong after new rules — Beijing has in recent years sought to combat gaming addiction
2023-11-27
The bomb you guys been waiting for: BYTEDANCE TO WIND DOWN ITS MAIN GAMING UNIT NUVERSE, TO ANNOUNCE PLAN TO EMPLOYEES ON MONDAY - SOURCES BYTEDANCE TO TELL EMPLOYEES TO STOP WORKING ON YET TO BE RELEASED GAMES, WILL LOOK FOR WAYS TO DIVEST FROM LAUNCHED TITLES - SOURCES
Reuters
ByteDance plans to “restructure” its gaming business; sources say ByteDance will wind down its Nuverse gaming brand and retreat from mainstream video games
TikTok maker ByteDance is set to internally announce on Monday the winding down of its Nuverse gaming brand and full retreat …
2023-11-25
Nvidia (NVDA.O) has told customers in China it is delaying the launch of a new artificial intelligence chip it designed to comply with U.S. export rules until the first quarter of next year, two sources familiar with the matter said. https://www.reuters.com/...
Reuters
Sources: Nvidia told Chinese customers it's delaying the launch of H20, the most powerful of three AI chips it designed to comply with US rules, until Q1 2024
Nvidia (NVDA.O) has told customers in China it is delaying the launch of a new artificial intelligence chip it designed to comply …
2023-11-24
Nvidia (NVDA.O) has told customers in China it is delaying the launch of a new artificial intelligence chip it designed to comply with U.S. export rules until the first quarter of next year, two sources familiar with the matter said. https://www.reuters.com/...
Reuters
Sources: Nvidia told its Chinese customers it's delaying the launch of H20, its most powerful of three AI chips designed to comply with US' ban, until Q1 2024
Nvidia (NVDA.O) has told customers in China it is delaying the launch of a new artificial intelligence chip it designed to comply …
2023-11-07
My latest: China's ByteDance to overhaul VR arm Pico as global demand declines -sources Pico to cut jobs with ‘hundreds’ of staff to be affected-sources ByteDance has pared back efforts to develop Pico brand-sources https://www.reuters.com/...
Reuters
Sources: Pico plans to cut “hundreds” of jobs and undertake its biggest overhaul since ByteDance acquired the VR unit in 2021, as global headset demand weakens
Josh Ye / Reuters :
The second person said that the order's total value was approximately 450 million yuan ($61.83 million) and that Huawei was to deliver all of the chips by the end of this year. Both people declined to be named because the details of the deal were confidential. 2/
Reuters