BITA - Tencent Can Leverage WeChat In Auto Sector
Tencent (OTCPK:TCEHY) is well-known to have investments in many areas. Its WeChat platform has over 1 billion users and has 34% of China's mobile data traffic. I detailed this in a previous article.
The company's main revenue streams emanate from this platform. Gaming is the largest, representing about a third of revenue. Music, online advertising, Cloud connections, payments through Tenpay and increasingly fintech all feed off the Internet platform. As I detailed here, the music division has 800 million users based around the company's Internet platforms.
Tencent has a new focus