Tencent - one of the world's biggest game publishers - has scaled back plans to take on the metaverse with its own VR h…
Tencent - one of the world's biggest game publishers - has scaled back plans to take on the metaverse with its own VR hardware., the Chinese company is set to trim back its plans and personnel by"cut[ting] costs and headcount" at its"extended reality" XR unit. It's unclear how this will impact the 300 employees currently working in the department, which was only set up in June last year.
Tencent traditionally acquired minority stakes and was content with being a"passive financial investor", but it is now"aggressively seeking to own majority or even controlling stakes in overseas targets", chiefly in the"core gaming sector". Metaverse assets are also reportedly of interest to Tencent.
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