PUBG Mobile Banned, Tencent Loses 34 Billion USD in Two Days
This year has been a particularly bad time for Chinese tech giant Tencent. Just last month, the company experienced a drastic drop in market value after the United States blocked the use of Tencent’s WeChat app for national security reasons.
A few days ago, the Indian government announced officially to block PUBG Mobile in India. In just two days, the technology company lost more than 34 billion USD (around 500 trillion rupiah) of its market value.
READ ALSO: PUBG MOBILE IS BANNED IN INDIA, AS WELL AS 117 OTHER APPLICATIONS FROM CHINA
Besides PUBG Mobile, several popular games from Tencent such as Chess Run, Arena of Valor, and Ludo World were also banned by the Indian government, and of course contributed to the decline in the company’s stock market value.
PUBG Mobile is one of the most popular mobile games in India with around 30 million daily active users. Since its release in 2018, this game has become the talk of many people. Because of its popularity, in India there is a PUBG-themed restaurant.
According to Senso Tower, in August India had 4.38 million downloads. This figure covers a quarter of PUBG Mobile players worldwide.
But in terms of income, China occupies the top position with a contribution of 154.5 million USD or 60% of Tencent’s revenue through PUBG in August. While India only contributed about 1% or 1.5 million USD. Although the percentage value does not look much, the value of Tencent’s shares has proven to continue to decline since the blocking of the battle royale game.
For now, PUBG Mobile can still be played on phones that already have the game application. However, PUBG Mobile has been removed from the Apple Store and Google Play Store India. In the near future, Indian ISPs will be blocked.
READ ALSO: PUBG MOBILE ANTI-CHEAT: OVER 2 MILLION ACCOUNTS AND 1.4 MILLION DEVICES BANNED
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