King Digital Launches Candy Crush In China; Hopes To Sweeten Revenue Stream
King Digital takes Candy Crush to China in an effort to improve the performance of its cash cow. The company has entered a distribution agreement with Tencent Holdings
Candy Crush, which was launched two years ago, requires players to arrange three similar objects together, creating matches to accumulate points. It has been among the highest-grossing games in the world. It was launched in April 2012 in the US and has more than 500 million users on iOS and Android combined. Its move into China is expected to help the company grow further.
The game will be distributed in China via Tencent messaging services MobileQQ and Weixin (WeChat), which has 225 million active users. The app will also be available on Tencent’s App Center and also Apple Inc.’s (AAPL) App store in China.
For Tencent, the partnership provides an opportunity to cement its leadership in the mobile gaming space of China, which has a total market worth of ¥50 billion ($8 billion). The company has faced increased challenges from its rivals Baidu Inc. (ADR) (BIDU) and Alibaba Group Holding, which have also made moves into the space.