“That could result in iPhone unit volumes getting decimated. “Since WeChat is very critical to Chinese users, integrating communications, payments, e-Commerce, social software, news reading, and productivity functions, we believe that the move will tank iPhone shipments in the Chinese market,” says Ming-Chi Kuo, an analyst with TF International Securities. In further bad news for the company, an analyst report suggested that iPhone sales in China may be impacted as a result of Trump’s ban on the app. Tencent’s stock has slipped further this week taking the two-day cumulative loss to 9.6%, or $66-billion. companies are anticipated in the coming years. Further acquisitions and investments in U.S.
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Tencent also owns 100% of Riot Games, known for the most popular PC game across the globe - League of Legends, and has bought stakes in many other gaming companies, including U.S. It has a 40% interest in Epic Games, the owner of the hugely popular game Fortnite that brought in revenue of $1.8-billion in 2019. Tencent is also known for being the world’s largest gaming publisher. restrictions on Chinese tech companies may be in the pipeline. Investors are concerned that the vaguely worded executive order may also extend to Tencent’s other businesses, and that further U.S. Tencent, the owner of WeChat, lost $34.6-billion in market value in Friday trading, the day after the announcement. That is why President Trump’s announcement had such an impact on Asian markets. But once tech companies have saturated the local market - as WeChat has come close to in China - the next growth opportunity is adding users in international territories. The app is currently used by 19-million active daily users according to Apptopia. WeChat is a one-stop-shop for anything and everything, used by more than a billion active users around the globe every month. Think of the ubiquity of Facebook integrated with Venmo, Slack, Doordash, Uber, instant message, and just about everything else you use your smartphone for.
So popular is WeChat in China, it is referred to as the people’s ‘Swiss Army Knife.’ Chinese residents say much of what they need during the day can be accomplished with the WeChat app. that has been a prominent part of pandemic social media over the last six months featuring friends creating and replicating “TikTok dances.” The second app, WeChat, is an integral part of everyday life in China, and virtually unknown Stateside. The first order is related to TikTok, a well-known product in the U.S. citizens and companies from interacting with Chinese tech products.
President Trump issued two executive orders this week banning U.S.
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