Slashdot Mirror
Tencent Is Now the Most Valuable Company in Asia (fortune.com)
Chinese web firm Tencent, which has stake in apps such as messaging clients WeChat and India's Hike messenger, has become the most valuable company in Asia. The company has been racing neck-and-neck with Samsung and China Mobile in the recent times but thanks to some strategic moves and aggressive expansion, and also some bad moves by its rivals, there's no one bigger than Tencent in Asia anymore. Fortune reports:Samsung has flagged over the last few days, however, after it had to issue a recall for its flagship Note 7 handset because of reports about battery fires. But stock in Tencent has continued to surge, rising 3.8% in Hong Kong on Monday. That took it to a valuation of HK$1.976 trillion ($255 billion). That jump takes Tencent narrowly past the market cap of China Mobile, and into the same premier league of public corporations as U.S. tech giants Apple, Alphabet, Microsoft, Amazon and Facebook. The Chinese e-commerce group Alibaba is not far behind, with a current valuation of around $250 billion.
into the same premier league of public corporations as U.S. tech giants Apple, Alphabet, Microsoft, Amazon and Facebook.
In before "How is Google not on that list??"
That jump takes Tencent narrowly past the market cap of China Mobile, and into the same premier league of public corporations as U.S. tech giants Apple, Alphabet, Microsoft, Amazon and Facebook. The Chinese e-commerce group Alibaba is not far behind...
Make sure your company's name starts with the letter A.
Samsung regardless of the shit quality of their products actually manfacuters something tangible
Tangible products tend to have low margins, since they directly compete with other products. Intangible social networking products have far more value because they are in a "winner take all" market. WeChat totally dominates in China. It is way more than just a Facebook replacement. As a voice app, it places most phone calls in China. It is also a ecommerce platform, with its own currency and escrow service. It is like Facebook+Twitter+Skype+eBay+Amazon+Paypal in a market of 1.2B people. It is so entrenched, it is unlikely lose its dominance.