Tencent, one of the world’s largest gaming businesses, plans to buy Xiaomi’s gaming phone brand, Black Shark. Tencent is purportedly attempting to enter the metaverse with this move.
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According to many credible sources, the Chinese gaming giant intends to incorporate Black Shark into its own Content Business Group. When Black Shark joins Tencent, it is expected to experience a business transition as well. Once the transaction is completed, the gaming phone brand is likely to expand.
According to reports, Black Shark’s expansion will include VR-based technology and gadgets. Tencent is anticipated to provide the VR software, while Black Shark will provide the hardware.
For those unfamiliar, Black Shark is a new firm that was launched in 2019 as a Xiaomi sub-brand. Xiaomi currently holds a 46.4 percent stake in the company, making it the biggest shareholder. Xiaomi and Tencent have yet to issue a formal statement on the transaction.
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Several IT companies have entered the AR/VR market since the launch of the metaverse, and it was only a matter of time until Tencent followed suit. It seems natural that the Chinese gaming company would seek out the knowledge of a seasoned tech behemoth and combine it with its own software skills.
As soon as either party issues a formal statement, we will update this area.