Tencent Finds ‘Preliminary’ WeChat Solutions for Carriers
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Billionaire Ma Huateng, chairman of Tencent Holdings Ltd., said China’s largest Internet company has “preliminary solutions” for state-owned carriers concerned that Tencent’s instant messaging app is hurting their profits.
Tencent worked with operators for the past month to resolve the situation, Ma said at the Global Mobile Internet Conference in Beijing yesterday without providing details. Tencent’s move comes as the popularity of its WeChat service eats into the text-messaging revenue of carriers including China Mobile Ltd., the world’s largest phone company by subscribers.