Alibaba Enters Chinese Mobile Gaming Market

Alibaba plans to take a piece of China’s growing mobile gaming sector by offering its own gaming platform, directly competing with current sector leader Tencent Holdings Ltd (HKG:0700) (OTCMKTS:TCEHY), whose products are already being used by half of all Chinese smartphone users, report Paul Carsten and Adam Rose for Reuters.

Last year the Chinese mobile gaming sector brought in $1.86 billion, and Tencent Holdings Ltd (HKG:0700) (OTCMKTS:TCEHY) made $55.86 million, but with the world’s largest number of smartphones and an economy that is still growing rapidly compared to the US and Europe, there’s plenty of room for growth. Alibaba doesn’t have...