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Lego Is Teaming Up With China’s Tencent to Develop Online Games [Fortune]

MATTEL (MAT)  More Company Research Source: Fortune
Last mattel earnings: 7/25 04:05 pm Check Earnings Report
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PDF Danish toymaker Lego is teaming up with Chinese internet giant Tencent Holdings (tcehy) to jointly develop online games and potentially a social network aimed at Chinese children. Privately-owned Lego has seen a slowdown in sales growth in recent years , but the Chinese market has been a bright spot with sales growing 25-30% in 2016. It is competing with Barbie maker Mattel (mat) and Hasbro (has) , the firm behind My Little Pony, for a slice of the $31 billion toys and games market in China. Lego said on Monday the partnership with Tencent, China’s biggest social network and gaming company, aimed to create a safe online environment covering content, platforms, and experiences tailored for Chinese children. “What we are looking for now with Tencent is just to find more creative ways… (of) reaching children, and creating bespoke content with Tencent, in this case, video games,” Jacob Kragh, head of Lego in China, told Reuters on Monday at joint event with Ten [Read more]

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