Tencent has become the world's largest mobile game developer

Timi Studios, a Chinese game studio owned by Tencent, is approaching $10 billion in 2020 revenue, told two people familiar with the matter Reuters. This means that the developer of such hits as Honor of Kings and Call of Duty Mobile has turned out to be the world leader in the mobile gaming market.

This success provides a solid foundation for her ambitious plans. The company hopes to expand beyond the mobile gaming segment and compete with gaming heavyweights such as the Sony PlayStation, Nintendo Switch, and Xbox.

It was revealed last month that the studio is planning to develop a big-budget AAA game reminiscent of a Ready Player One-style virtual community.

• Tencent is opening studios overseas to create original content and reach audiences around the world. She already has two studios in Los Angeles, one for Timi.
• Tencent's ultimate goal is to generate half of its gaming revenue from overseas. According to the results of the fourth quarter of 2019 (latest available data), this share is 23%.
• Last week, Tencent reported that the company's online gaming revenue topped 156 billion yuan (nearly $24 billion), without giving a specific amount from each studio. Timi accounts for 40%, while Lightspeed & Quantum, which has PUBG Mobile in its portfolio, accounts for 26%, according to sources.

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The top three publishers of mobile games with the highest income in the world, according to the analytical company App Annie, included Playrix with Russian roots. During the year, the company of Igor and Dmitry Bukhmanov rose from seventh place in terms of annual revenue to third, displacing the American Activision Blizzard, the creator of the Call of Duty shooter.