Techcrunch reports that Tencent, the biggest online and mobile games company in China, has announced that it will pay $500 million for a 28% stake in CJ Games as it expands its global reach via acquisition.
The transaction will make Tencent the third-largest investor in the South Korean gaming company and help it expand its mobile gaming business worldwide. Tencent is currently China’s largest integrated online game company.
Sina.com, rival to Baidu and Sohu, changed things up this week by rebranding the name of Sina Weibo (their microblogging service) to just “Weibo.” They then announced that they plan to list on NASDAQ under the ticker symbol WB.
Two key points to take away from this article on Tech in Asia – Indonesia really will be the next big mobile gaming market and Southeast Asia is comprised of very distinct, very different markets.
“Southeast Asia is often spoken of as if it were a single country with a common language and culture. In fact, it’s no more monolothic than the European Union.” We agree. To learn more about the very different markets, check out the 2013 (December) Southeast Asia Games Report in our research store.
China’s MIIT and the GAPPRFT will release standards for smart TV operating systems in the near future, according to Marbridge Daily. Smart TVs are on the rise globally and China is no different – it’s estimated by A-View Consulting that China’s smart TV penetration rate will rise to 69% in 2014. Chinese consumers have engaged in “console-alternative” gaming on Smart TVs for a couple of years already.