by Christopher Freeburn | April 16, 2014 11:17 am
The super-popular and highly-addictive Candy Crush Saga mobile game will debut in China early next year.
Candy Crush-creator King Digital Holdings (KING) will partner with China’s Tencent Holdings (TCEHY) to introduce the game to Chinese consumers in January. Candy Crush will be distributed in China through Tencent’s mobile platforms, which have more than 220 million active monthly users, Reuters notes.
Generating fourth-quarter 2013 revenue of $493 million, Candy Crush has been a massive hit for KING, which went public last month. The app is one of the most downloaded mobile games.
Despite Candy Crush’s success, KING has seen gross bookings for the game begin to fall. Investor concerns over its reliance on Candy Crush, marred KING’s March IPO. KING is looking to attract more users in China to offset weakening growth in developed markets. KING derives most of its revenues from in-game purchases made by Candy Crush users.
In Wednesday morning trading, KING stock gained more than 2%, while TCEHY shares rose more than 1%.
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Source URL: http://investorplace.com/2014/04/king-tencent-deal-will-bring-candy-crush-china/
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