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Popular Game Developer Tencent has a huge loss after PUBG Mobile was banned in India.Did you know
Breakdown
- In mid of 2020, amid heightened tensions between India and China following the Galwan Valley incident, the Indian government banned PUBG Mobile, some citing security concerns related to Chinese apps. This decision, part of a broader crackdown on Chinese applications under the Information Technology Act, affectetantial impact on PUBG Corporation - Krafton and the Chinese entities involved in the game.
- A report in Inside Sport revealed that Tencent suffered a huge of $34 billion loss in just two days following the PUBG Mobile ban in India. This marked the second largest dip in the company's market value, surpassed only by the $66 billion loss incurred after the US ban on WeChat.
- To further mitigate the impact of the ban and potentially pave the way for a return to the Indian market, PUBG Corp took the significant step of severing ties with Tencent. This strategic move, while necessary, undoubtedly resulted in additional financial losses for Tencent.
- Following the ban, Krafton made numerous attempts to re-introduce PUBG Mobile in India. Ultimately, they achieved success with the launch of Battlegrounds Mobile India, a tailored version of the game designed to comply with Indian regulations.
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