Tencent loses $34 billion since the PUBG ban in India

• The company behind the Chinese app PUBG, Tencent, traded in the red for a second straight day after the Indian government banned the game

• Tencent has lost nearly $34 billion with its share price falling by 2% and 3% over consecutive days after the ban

• In addition to PUBG, other Tencent mobile apps like Chess Run, Arena of Valor, and Ludo World have also been banned in India

• Notably, India is PUBG Mobile’s biggest market, accounting for roughly 175 million installs

• Though PUBG was created by a South Korean gaming company, Tencent, one of China’s biggest gaming companies, bought its mobile version

• India was one of the biggest markets for PUBG with the game earning Rs 22,500 crore from the Indian market till July 2020

Source: BusinessInsider, Zeebiz

Pulkit Bhardwaj

Btech, MBA | IIT Kanpur alumnus