Lego teams up with Chinese Internet giant Tencent [Business News Network (BNN) Energy & Resources (Canada)]
Mattel, Inc. (MAT)
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Source: Business News Network
Lego teams up with Chinese Internet giant Tencent BEIJING/COPENHAGEN - Danish toymaker Lego is teaming up with Chinese internet giant Tencent Holdings Ltd 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 per cent in 2016. It is competing with Barbie maker Mattel Inc ( MAT.O ) and Hasbro ( HAS.O ), the firm behind My Little Pony, for a slice of the US$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
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