Tencent to Restructure Mobile Business Again?

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Rumor has been whirling recently that Tencent is about to restructure its Mobile Internet Group again after last year’s major reorganization in which the company was divided into six business groups.

Local portal site Sina Tech reported that Liu Chenming, EVP of Tencent and president of Tencent MIG (Mobile Internet Group) confirmed his resigning. Ren Yuxin, COO of the company would take over Mr. Liu’s post. The move might suggest that Tencent would be restructuring its mobile internet business again in less than a year.

Interestingly, Weixin (or WeChat), currently the most popular mobile messaging app in China with over 300 million users has nothing to do with MIG, which by its name is supposed to take care of a product like Weixin. According to an anecdote, Pony Ma once suggested the then wireless arm of Tencent to work on an app similar to Kik, the idea was rejected. Later on Tencent’s Guangzhou Research Institute take the idea up, Weixin became an overnight sensational success.

An industry insider noted that Tencent would be releasing an official announcement on February 1st.

Liu Chenming, EVP of Tencent, head of Tencent MIG

 

Image Credits: Sina Tech