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Tencent Is Cancelling Products at Record-Breaking Pace

By Kay Kuo
Aug. 17, 2022 updated 10:10

According to Spiral Lab, Tencent has stopped offering services to 9 products since April, including mobile applications, search engines, games, and social networks. Among these products, some are well-known, like Sogou Map, which has been offering services for 23 years, and KanDian, which used to reach a peak of 240 million concurrent active users. The report by Spiral Lab also points out that Tencent has shelved 28 online games from active operation in 2022.

Tencent games that have been removed from platforms in 2022Tencent games that have been removed from platforms in 2022

Spiral Lab finds that Tencent has shut down more products this year than ever and that there exist superior substitutes for most of the abandoned products. Spiral Lab thinks the reason why Tencent keeps cutting down products is that Tencent did not get an ideal return on the large investment in the recent two years.

Given the condition that the net profit of Tencent has slumped by 23% in the first quarter of 2022 compared to last year, Spiral Lab believes Tencent needs to focus on more profitable products to ensure a long-term operation.

Source: Weibo