Tencent disappointed with video game results in 2023
, by Thibaut
Despite its status as the biggest company in the video-game industry, Tencent faced a tough year in 2023. During its annual meeting, the Chinese group spoke of its fears in the face of its competitors.
Tencent CEO and co-founder Pony Ma expressed his disappointment with last year's results.
"Gaming is our flagship business...But in the past year, we have faced significant challenges. We have found ourselves at a loss, as our competitors continue to produce new products, leaving us feeling having achieved nothing."
In the first half of 2023, Tencent generated $15.4 billion in revenues from its gaming business. Despite this 3.6% year-on-year drop, the Chinese firm remained market leader. Sony came second with $8 billion and Apple third with $6.9 billion.
Source: reuters.com