Tencent is restructuring amidst continued Chinese game industry woes

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Tencent is having a terrible, horrible, no good very bad year so far. Sure, its problems began when Monster Hunter World had to get unceremoniously moved backwards in the release schedule due to the Chinese government having issues with approving new games. But its problems have been compounding, not getting better, as the approval process remains stagnant and other corporate setbacks bring the game giant down to a net $190 billion loss.

That means it’s time for a corporate restructuring as Tencent tries to pull up from its freefall, focusing more heavily on technology development to keep up with its closest competing firm, Alibaba. The company even seems to have scaled back its planned global launch of WeGame, removing interviews with the director at this year’s Gamescom. Obviously, the firm is still enormous and in little danger of shutting down, but it’s clear that the troubles in the international marketplace have hit Tencent hard.

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