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Tencent Has Lost About $42 Billion After PUBG Mobile Banned In India

 


Chinese tech giant has lost $34 billion in terms of market value, just a day after  Indian government announced the ban on 118 Chinese apps including most popular mobile game PUBG mobile in India.It became immediately clear that the impact and damage will be severe. However,Noone guess market will respond so fast and so aggressively against Tencent. A Chinese gaming company which owns PUBG. Apart from PUBG Mobile, Arena of Valor, Chess Run, and Ludo World have also been blocked, all of which have an association with Tencent and are being considered for the company’s dip in the market.

Tencent reportedly lost $14 billion in its market value as its stock value dropped by 2% on Thursday.

PUBG Mobile has been Tencent’s biggest moneymaker in India among all the games that it offers, raking around 30 million daily active users. India is also the leading country when it comes to the total number of active users across the globe, making it the most important market for Tencent. Ever since the announcement of the ban, Tencent’s stocks have been dipping continuously going from HK $545 to HK $519. Recently Tencent faced a big blow after the company’s WeChat app was banned last month in the US on grounds of national security.PUBG Mobile has been removed from the Google Play Store or the Apple App Store. While the game is still active and available for users who have the game installed on their phones, it won’t be long before ISPs are ordered to completely block the game. 

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