Technology
Tencent launches party game 'DreamStar’
Chinese tech giant Tencent Holdings on Friday launched "DreamStar", a new party game that has been widely anticipated by users and pegged by analysts to pose a threat to domestic arch rival NetEase .
"DreamStar", in which Gamers play as cartoon characters to race in an obstacle course, is seen as Tencent's move to take on NetEase' massively popular Game "Egg Party", a surprise hit which has helped lift NetEase shares by more than 40% this year.
JPMorgan analysts said in a note on Thursday that the launch of "DreamStar" could impact NetEase revenue by 2% to 3%. The bank also trimmed its forecast for NetEase revenue for the next two quarters by 4% and 5% respectively.
"Egg Party" is forecast to be on track to earn an annual revenue between 7 billion yuan and 8 billion yuan ($980 million and $1.1 billion) this year, according to a Goldman Sachs note.
As Tencent's answer to "Egg Party", Goldman expects "DreamStar" to earn between 5 billion and 6 billion yuan in its first year.
NetEase's market capitalisation reached $67 billion on Friday, a day after surpassing food delivery giant Meituan to become China's fourth-biggest internet company.
Tencent remains China's biggest internet company. It is the world's biggest video Games provider and it operates China's leading social network app WeChat.
Tencent has been in search for new hit gaming titles as comPetition from other Game developers like NetEase and miHoYo, producer of "Genshin Impact", intensifies. Tencent unveiled its most ambitious console title, "Last Sentinel", this month.
-
Technology20h ago
China prepares to launch Chang'e-6 lunar probe
-
Technology20h ago
Three more Chinese astronauts enter space station
-
Technology1d ago
Limited resources or be your own boss: Why GEN Z is not interested in job?
-
Technology1d ago
TikTok general counsel to move to new role focused on fighting US sale
-
Technology1d ago
How To Use The Meta AI Chatbot In Instagram, WhatsApp Along With Its Hidden Features
-
Technology1d ago
Chipmaker Intel falls as AI competition hurts forecast
-
Technology2d ago
Eric Schmidt and Yoshua Bengio Debate How Much A.I. Should Scare Us
-
Technology2d ago
Alphabet, Microsoft earnings show hefty AI bets are driving growth