'It will not be surprising to see more Tencent products being shut down in the future.' 'In the larger context of Tencent trying to reduce costs and increase efficiency, products that neither make money nor have any strategic prospects need to be cut off,' said iiMedia's Zhang. Tencent also said last month it would terminate its news aggregator app Kuai Bao, citing business adjustments.

Last week, Vue Vlog, a live video-blogging app bought by Tencent in 2014, announced it would cease operations in September. Tencent has already dialled back on some of its non-gaming businesses, joining other Big Tech companies that have been going through restructuring to reduce costs. The Shenzhen-based company was in the process of slashing thousands of jobs, the Post reported in March. The pace of approvals has significantly slowed from a year ago, while Tencent and its closest domestic rival NetEase have yet to gain a single new licence this year.Ĭhinese antitrust regulators last year blocked Tencent's plan to merge Douyu and Huya, two of China's largest game-streaming websites, both controlled by Tencent.Īlso last year, Tencent saw its slowest annual top-line growth since the company went public in 2004. Regulatory pressure continues to weigh on Tencent and China's video gaming industry, even after the government ended its eight-month freeze on video game licensing in April. 'Tencent's game products belong to various studios, each backed by their own personnel, budget, and development and operational resources', which made WeGame 'a bit redundant', he said. The WeGame app has an 'awkward positioning' in the market, said Zhang Yi, chief executive at iiMedia Research. Some of the app's functions will be transferred to the PC version of WeGame, which will remain operational, the team said.

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