Days after PUBG Mobile was banned in India, its effects have started to be felt in the Chinese market. While the game ban is surely a loss for many PUBG Mobile lovers in India but the real loser is Tencent.
As per the reports, the Chinese tech company has lost around $34 billion ($261.05 HK) of its overall market value within just two days into the PUBG ban in India.
India had over 21 million active PUBG players in India, which is one-fourth of PUBG Mobile’s user base. So acquiring that much loss is obvious!!
As per reports by Bloomberg, this is a second massive drop in the Chinese tech value in years. The biggest value drop it felt was back when Donal Trump banned its texting app WeChat. Trump had accused the app of stealing and sharing user data with Chinese authorities.
The Indian government has also banned the app on the grounds of it risking user information. India also claimed that PUBG “engaged in activities prejudicial to sovereignty and integrity of India, defence of India, the security of the state and public order”.
Tencent has even issued an official statement pertaining to the ban stating, “Tencent takes the protection of user privacy and data seriously. Our apps have always remained in compliance with applicable data protection laws in India and all other markets where we operate. We look forward to engaging Indian authorities to clarify our long-established policy and action in protecting user data, and hope to ensure the continued availability of our apps in India.”
However, most of us are aware of the real reason behind the ban. The government has also banned 117 additional apps besides PUBG Mobile. These also include WeChat.
Meanwhile, Akshay Kumar has launched FAU-G as an alternative to PUBG Mobile.