Tencent plans global expansion for WeGame

Chinese internet giant Tencent Holdings has revealed it will launch an international version of its online game platform, WeGame, which is the largest video game platform in the world by revenue and the biggest distributor in China.

Tencent, which also runs WeChat and WePay, will begin the expansion of its game store and platform in Hong Kong before building up its service overseas. This will enable video games developed in China to be bought by overseas users.

A spokesperson said: “The Hong Kong version of WeGame is now under development. This version will be available for overseas users, and we will use this platform to bring more Chinese games to the global market.”

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Last month it was announced US game platform Steam would launch in China, which will create competition for WeGame and is likely to have prompted the expansion plans.

In the first quarter of this year, Tencent released huge profit figures for 2018 and put this down to the success of its gaming and advertising segments. Revenue rose by 55% year on year. Indeed, the internet giant partially attributes its fame to the creation of popular online game League of Legends and is currently the largest technology company in Asia.