Tencent subsidiary TiMi Studios and Microsoft's Xbox Game Studios have entered into a strategic partnership that will help Microsoft's video games enter the Chinese market. At the same time, Tencent has announced that it will launch 60 new video games. This can be seen as a response to ByteDance's greater efforts to gain a foothold in the gaming market. Last year, Tencent generated CNY 156B (USD 24.2B) in video game sales, making it very attractive for ByteDance to attack this monopolistic market.
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