Tencent seeks to diversify from mainstay consumer biz to industry for future growth

Tencent seeks to diversify from mainstay consumer biz to industry for future growth

FILE PHOTO: WeChat mascots are displayed inside Tencent office at the TIT Creativity Industry Zone in Guangzhou, China May 9, 2017. REUTERS/Bobby Yip/File Photo

Chinese internet group Tencent Holdings plans to expand into providing services to industries such as healthcare and connected cars in a move to promote growth beyond its mainstay consumer business.

Tencent, China’s largest social media and gaming company that operates the WeChat messenger app, in September announced a major restructuring aimed at moving from being a consumer business towards one catering to industry too.

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