Tencent's business to be cut into six groups
By Ding Yining |
May 19, 2012, Saturday
|
Print Edition
Print Edition
TENCENT, China's largest Internet company in terms of user base and market capitalization, yesterday announced plans for a business restructuring - dividing its business into six groups - to better adapt to market situation and focus on key sectors such as mobile Internet and social networking.
"The new business structure will allow us to put more focus on user demand in the fast-moving Internet market," Chief Executive Officer Ma Huateng said in an open letter to employees.
Tencent's business will be carved up into six business groups, namely technology and engineering, social networking, creative business, interactive entertainment, mobile Internet and online media.
It will also establish an independent e-commerce unit to operate its online shopping business, the Shenzhen-based company said in a statement yesterday.
The company has extended its service beyond the online chatting tool QQ to other sectors, including online gaming.
"Tencent's market vision is very acute among domestic Internet firms, and the internal structure overhaul will allow it to better leverage its dominant position in instant messaging," said Analysys International researcher Dong Xu.
Tencent made a series of investments last year to take stakes in e-commerce site 51buy.com and online travel booking agency eLong.com.
However, the company is also feeling the squeeze from other Internet giants, such as Sina in the social networking sector and NetEase in the online gaming business.
"The new business structure will allow us to put more focus on user demand in the fast-moving Internet market," Chief Executive Officer Ma Huateng said in an open letter to employees.
Tencent's business will be carved up into six business groups, namely technology and engineering, social networking, creative business, interactive entertainment, mobile Internet and online media.
It will also establish an independent e-commerce unit to operate its online shopping business, the Shenzhen-based company said in a statement yesterday.
The company has extended its service beyond the online chatting tool QQ to other sectors, including online gaming.
"Tencent's market vision is very acute among domestic Internet firms, and the internal structure overhaul will allow it to better leverage its dominant position in instant messaging," said Analysys International researcher Dong Xu.
Tencent made a series of investments last year to take stakes in e-commerce site 51buy.com and online travel booking agency eLong.com.
However, the company is also feeling the squeeze from other Internet giants, such as Sina in the social networking sector and NetEase in the online gaming business.
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