Tencent, whose WeChat and QQ messaging apps have 1.2 billion and 653 million monthly active users respectively, is seeing its dominance challenged by rivals. — SCMP
Chinese tech giant Tencent Holdings has unveiled several new social networking apps, ramping up efforts to retain user attention amid increasing competition from rivals and slowing growth of its flagship WeChat super app.
The new social networking apps, with features such as videos, online communities and e-commerce, will compete against established rivals like Bytedance and Kuaishou, which dominate China’s short video market, as well as a crop of Internet giants that are expanding into social networks.
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