Mark Zuckerberg's Chants Against China Proves Costly For His Metaverse Ambitions In Country
Portfolio Pulse from Anusuya Lahiri
Meta Platforms, Inc. (NASDAQ:META) has been trying to restart its business in China by selling its Quest headsets. The company has made progress with Tencent Holding Ltd (OTC:TCEHY), but faces challenges due to CEO Mark Zuckerberg's image in China and non-compliance with Beijing's censorship rules. Any deal with Tencent would make it the exclusive seller of Meta's headsets in China. However, complications include China's weak consumer spending and operational issues like user data handling.
July 03, 2023 | 4:36 pm
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NEUTRAL IMPACT
Meta's attempts to restart its business in China face challenges due to CEO Zuckerberg's image and non-compliance with Beijing's censorship rules. A potential deal with Tencent could boost Meta's presence in China.
Meta's attempts to restart its business in China could potentially boost its presence in the country. However, challenges such as CEO Zuckerberg's image and non-compliance with Beijing's censorship rules could hinder progress. The potential deal with Tencent could be beneficial, but it's uncertain at this point.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Tencent is in discussions with Meta to become the exclusive seller of Meta's headsets in China. This could provide a new source of revenue for Tencent.
Tencent is in discussions with Meta to become the exclusive seller of Meta's headsets in China. If the deal goes through, it could provide a new source of revenue for Tencent, positively impacting its stock.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70