Tencent’s China Literature ends Kindle-like ereader service as Big Tech firms pull back on unprofitable businesses

Online services for China Literature’s ebook reader Koudaiyue will cease late next month, the Tencent-backed company said on Monday. Chinese technology giants have ended a string of service offerings this year, as they grapple with regulatory uncertainties and a worsening economy. — SCMP

Chinese technology giant Tencent Holdings’ online literature arm said on Monday it would pull the plug on its e-reader service, in the latest sign of China Big Tech’s retreat from noncore businesses.

China Literature said it would end online services for its ebook reader Koudaiyue, which translates as “pocket reading”, by Oct 26, after which users will no longer be able to purchase new books through their devices. Titles that had already been downloaded will remain readable.