After PUBG Mobile Ban Tencent Loss $34 Billion in just 2 Days

After PUBG Mobile Ban Tencent Loss $34 Billion in just 2 Days

The ban is the latest move against Chinese companies in India amid a months-long standoff over a disputed border but the timing and the target were particularly tough for young people.The Indian government banned an additional 118 China-linked apps in India. The list included PUBG Mobile, one of the most popular gaming apps in India.

The recent ban on the popular mobile game PUBG Mobile has hit the Indian gaming community hard, but not as much as the game’s developer Tencent. According to a report, the Chinese tech giant has lost $34 billion in terms of market value, just a day after the ban on 118 Chinese apps in India. 

 Apart from PUBG Mobile, other popular games by Tencent holding such as Arena of Valor, Ludo World and Chess Run have also been banned in India which also contributed to their loss in market value.

PUBG Mobile accounts for a major part of Tencent's global revenue and India accounted for almost 30 million active users every month. India is also the number 1 country for downloads with almost 200 million installs to date. The massive player base in India is indicative of the fact that India was quite important for PUBG Mobile and Tencent. The ban has affected Tencent quite adversely in terms of market value and we can see the value plummeting even further if the ban is not lifted soon. 

PUBG Mobile has now been removed from the Play Store and App Store in India which means the game will not be receiving any updates in the near future until the ban has been lifted. 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.

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. Tencent Holdings has not provided any statement about the money spent to buy cosmetics, Royale Pass and other items by Indian users or whether any refunds will be issued.