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Toymaker Lego teams up with Chinese internet giant Tencent [Reuters]

MATTEL (MAT)  More Company Research Source: Reuters
Last mattel earnings: 4/26 04:05 pm Check Earnings Report
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PDF Toymaker Lego teams up with Chinese internet giant Tencent | Reuters Reuters Staff 3 Min Read COPENHAGEN (Reuters) - Danish toymaker Lego is teaming up with Chinese internet giant Tencent Holdings Ltd ( 0700.HK ) 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 percent 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 $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. “We’ve seen more and more Chinese children engage with the world digitally, and the partnership will bring them safe and imaginative di [Read more]

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