Pony Ma, the chief executive and co-founder of Tencent ($TCEHY), acknowledged that the company's video games business is facing significant challenges from competitors. Despite past successes with hits like “Honor of Kings” and “PUBG Mobile”, recent products have not met expectations. Video games are a critical segment for Tencent, accounting for over 30% of its revenue. Ma also expressed concerns about Tencent's performance in 2023, stating that the company has 'achieved nothing' in that year. However, he indicated that Tencent is making strides in artificial intelligence development, although he does not foresee a massive, AI-native application emerging within the next one or two years.
Tencent CEO feels its game business "achieved nothing" during 2023 https://t.co/b3zNA50sq2 https://t.co/wHFGn5sqNm
Tencent boss worried that in the face of 'significant challenges' and competition it has 'achieved nothing'. https://t.co/JWa3trmXDJ
Tencent has reportedly expressed concern that it could lose its status as the world’s largest gaming company after it underperformed in 2023. https://t.co/WSqG1GajVB https://t.co/F5wyeGTJIL
Tencent CEO feels its game business "achieved nothing" during 2023 "We have found ourselves at a loss as our competitors continue to produce new products" https://t.co/b3zNA50sq2 https://t.co/4omtIrJlXd
Tencent's past hits such as “Honor of Kings” and “PUBG Mobile” continue to deliver strong revenue, but recent products are falling short of expectations. #Tencent #TencentGaming https://t.co/PqNp2nICPE
“In the short term, within the next one or two years, I feel like there will not be a massive, AI-native application yet,” he said. $TCEHY Tencent Chief Says Gaming Business Under Threat, Catching up in AI https://t.co/zYPaWyUl7Y
🎮 #Tencent chief says gaming business under threat, catching up in #AI Pony Ma said that the company has been resting on its laurels in gaming while competitors have delivered new hits. Video games account for more than 30% of Tencent's revenue. https://t.co/uPJffpYbfd
Pony Ma, chief executive and co-founder of Tencent said that the company's video games business faces great challenges from competitors but is catching up in artificial intelligence development https://t.co/M9SIS33jW0
Pony Ma, chief executive and co-founder of Tencent said that the company's video games business faces great challenges from competitors but is catching up in artificial intelligence development. More here: https://t.co/MkbNJUL7j4