China’s halt for new game approvals cost billions of dollars for Tencent and NetEase

After the success of PUBG and growing market share of mobile games, Tencent and NetEase become one of the richest game publishers in the world. But being a Chinese company can sometimes lead to a huge loss in profits. A few months ago, the Chinese government freeze on new game approvals for companies in China, and it seems this move make companies like Tencent and NetEase lose so much money in just a few months. 

China’s halt for new games cost 1.4 billion dollars for Tencent and NetEase

According to The Wall Street Journal, China’s decision cost billions of dollars for that companies. They also shared a performance chart for companies share-prices. And we can clearly see the cost in this graphic.

China’s freeze on videogame approvals is said to have cost companies such as Tencent and NetEase roughly $1.4 billion in lost revenue https://t.co/7y9n8N0TbH pic.twitter.com/RrHUP7nQoJ

— The Wall Street Journal (@WSJ) October 24, 2018