The U.S.-headquartered game maker announced a new studio in Shanghai on Friday with a focus on developing new games for a global audience.
about the level of influence Chinese firms may have on companies they invest in or acquire, even if they are foreign."We are happy about the current partnership, and we will continue working closely. But that won't change the fact that Riot Games operates independently and Tencent respects a lot of that … we are very confident that we will move forward together in China to serve our players," Lin said.
A screen shows the All-Star Match during the 2020 LPL "League of Legends Pro League" All-Star Weekend on January 2, 2021 in Chengdu, China.The League of Legends world championship was held in China in 2020 and will be held again in the country in 2021. Newzoo estimates that this year the e-sports market will generate over $1 billion in revenue globally for the first time, with China expected to be the biggest region.
Riot Games has tried to latch onto this trend and launched a mobile game called "League of Legends: Wild Rift" last year in some regions, taking advantage of its well-known brand. It is yet to fully launch in China.
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