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Pony Ma, chief executive and co-founder of Tencent Holdings, has said that the company's video games business faces great challenges from competitors but is catching up in artificial intelligence (AI) development. Ma, speaking at Tencent's annual meeting in a stadium in Shenzhen on Monday, said that the company has been resting on its laurels in gaming while com Pet itors have delivered new hits. Video Game s account for more than 30% of Tencent’s revenue. Chinese media outlet Jiemian published parts of Ma’s speech online. A person with direct knowledge of the matter, who declined to be named because they are not permitted to speak to the media, confirmed the contents. Ma’s speech underscores concerns whether Tencent, the world’s biggest gaming company and the operator of China’s biggest social network WeChat, can defend its status as China’s No.1 tech company at a time marked by intensifying competition and new disruptive technologies. ...

TikTok maker ByteDance plans to wind down its Nuverse gaming brand and retreat from mainstream video Game s, four people familiar with the matter said. ByteDance told Reuters it had decided to restructure its gaming business after a review, without giving further details. "We regularly review our Business es and make adjustments to centre on long-term strategic growth areas. Following a recent review, we've made the difficult decision to restructure our gaming Business ," the spokesperson said. The sources said ByteDance will tell employees on Monday to stop working on unreleased games by December, and that it will look for ways to divest from titles already launched. The decision is likely to impact hundreds of employees, some of whom learnt about the move at the weekend, the people said. The Chinese technology firm has no plan to return to the $185 billion global video games market, they added, declining to be identified as the information was not public. Cas...

Meta Platforms Inc Chief Executive Mark Zuckerberg told employees on Thursday that WhatsApp and Messenger would drive the company's next wave of sales growth, as he sought to assuage concerns about Meta's finances after its first mass layoffs. Zuckerberg, addressing pointed questions at a company-wide meeting a week after Meta said it would lay off 11,000 workers, described the pair of messaging apps as being "very early in monetizing" compared to its advertising juggernauts Facebook and Instagram, according to remarks heard by Reuters. "We talk a lot about the very long-term opportunities like the metaverse , but the reality is that Business messaging is probably going to be the next major pillar of our Business as we work to monetize WhatsApp and Messenger more," he said. Meta enables some consumers to speak and transact with merchants through the chat apps, including a new feature announced Thursday in Brazil. The company did not immediate...

Sony Group is increasing its focus on the virtual production business where it is seeing market-beating growth, a company executive said, riding on the strength of the Japanese entertainment conglomerate's technology. The business, which offers virtual production facilities to filmmakers and broadcasters, involves using a wall of light-emitting diode (LED) panels displaying images - a science-fiction landscape or a downtown cityscape - that are integrated into the scene as it is shot. An alternative to green screens, where digital effects are added at a later stage, advantages of the system include more realistic reflections created by light from the panels and greater immersion for actors on set. Sony sees its edge from the company's strength in hardware - the conglomerate makes everything from image sensors for cameras to the supersized LED video walls - and moviemaking expertise as a major player in Hollywood. "It's because we have the hardware that we can ...

An Australian Business has raged at a social media juggernaut it says left them high and dry when faceless criminals threatened to sell its hacked accounts. Contemporary fashion brand Suboo was launched in Sydney in 2012 and has cultivated a following of more than 130,000 people on Instagram, plus more on Facebook. Beyond the odd pop-up store, Suboo operates almost exclusively online where it pumps huge money — about $120,000 per annum — into digital advertising to direct shoppers back to its website. Looking for a new job or job candidate? Post jobs and search for local talent on 7NEWS Jobs >> But the small Business was left reeling on August 21 when its Instagram account was compromised and staff were locked out, leaving them helpless as cybercriminals took control of the page Suboo had built up over the last 11 years. Shortly after the takeover, Suboo staff were inundated with WhatsApp messages and late-night phone calls from hackers threatening to ransom the Business pag...