Tencent to increase spending after 25% quarterly gain
The Chinese internet giant plans to invest in cloud services, games and short-form video content, joining rivals Alibaba and Meituan
20 May 2021 - 16:31
Hong Kong — Tencent Holdings has pledged to sharply increase investments this year after posting a 25% gain in quarterly revenue, joining its biggest rivals in a spending binge that will jack up competition in China’s post-pandemic internet arena.
China’s three largest tech corporations are vying to entice users into the fast-growing arenas of e-commerce and video...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.