Recently Tencent faced a big blow after the company’s WeChat app was banned last month in the US on grounds of national security. Ever since the announcement of the ban, Tencent’s stocks have been dipping continuously going from HK $545 to HK $519. India is also the leading country when it comes to the total number of active users across the globe, making it the most important market for Tencent. PUBG Mobile has been Tencent’s biggest moneymaker in India among all the games that it offers, raking around 30 million daily active users. Apart from PUBG Mobile, Arena of Valor, Chess Run, and Ludo World have also been blocked, all of which have an association with Tencent and are being considered for the company’s dip in the market.
According to a report, the Chinese tech giant has lost $34 billion in terms of market value, just a day after the ban on 118 Chinese apps in India. The recent ban on the popular mobile game PUBG Mobile has hit the Indian gaming community hard, but not as much as the game’s developer Tencent.
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