Tencent Loses $34 Billion In Just Two Days Following PUBG Ban

On September 2, Indian PUBG players witnessed a truly dreadful event. The Indian government decided to ban the popular battle royale game PUBG Mobile. The game was instantly removed from Google Play Store and iOS App Stores.

While this seems to be a grave loss for the Indian mobile gaming community, for Tencent, the company behind the famous game, it is an even greater loss.

In just two days following the ban, the tech company based in China has lost about $34 billion. And this is totally easy to understand since India accounts for one-fourth of the user base of PUBG Mobile.

According to Bloomberg reports, this is a second significant drop in the valuation of the Chinese tech firm. The first drop was when US President Donald Trump ordered the texting app WeChat to be banned for stealing user data and sending it to Chinese authorities.

In India, along with 118 other apps, PUBG Mobile was said to interfere with the country’s sovereignty, integrity, security, and defense.

After the ban, Tencent has issued a statement.

It is important to point out that the ban came amid the rising tension between Indian and Chinese troops around Pangong Tso lake.

Back in June, after the face-off between the troops of the countries at the Galwan Valley border killing 20 Indian soldiers, the Indian government also decided to ban TikTok, another popular Chinese app among Indian users.

>>> PUBG Mobile Ban Left Gamers In Shock But Parents Are Happy