![]() ![]() Most of China’s top tech companies have made big pushes into cloud computing services, which allow users to store information and use computing programs housed on remote servers operated by third parties. Tencent highlighted its establishment of a new ‘Cloud and Smart Industry Group’, which will merge its offerings in cloud computing, online education, healthcare, transport and mapping among other areas into a unified whole to better harness the huge amount of data and analytics the company receives. A separate group will remain for WeChat, which Tencent says has over 1 billion active users. ![]() ![]() 1 holiday.Ĭonsolidation of the three major divisions into one comes as lines between their areas increasingly blur thanks to the dominance of WeChat, Tencent’s messenger app, social networking, and payments system rolled into one, analysts said. The tech giant will cut the number of its groups to six from seven, with its social networking, mobile internet and online media divisions to be merged into a single group, according to a statement released on Sunday, just before the start of China’s weeklong Oct. That change has taken the wind out of the company’s formerly turbocharged stock, which has fallen more than 30% from a peak in late January. The overhaul comes as Tencent faces some of its strongest headwinds in years, as its core gaming and social networking businesses start to mature after years breakneck growth. announced its first major restructuring in six years as it looks to arrest the recent slide in its fortunes by building up offerings in cloud computing and big data analysis. ![]()
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