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While no outright closure has been announced, the studio's current focus is on assisting its team members in finding new opportunities and establishing connections with other companies.
Insider sources report that Tencent has taken over certain gaming operations previously cut by ByteDance.
China's draft regulations on online games, which discourage daily login rewards and mandate user recharge limits, could significantly impact the profitability of gaming companies.
More than half of the 32 gaming companies listed on the Chinese mainland predicted slowed year-on-year net profit growth for the first quarter of 2020.
On the evening of September 13, China's regulator announced a new batch of approval numbers authorizing the release of new online games in the country. The latest list finally includes titles developed by NetEase and Tencent.
Chinese e-sports powerhouse PSG.LGD successfully broke into the upper bracket final of the ongoing Dota 2 International in Shanghai tournament.
Bytedance CEO Liang Rubo released an internal letter this morning, saying that the firm will make organizational changes and set up six business units.
Razer, a retailer of gaming peripherals, took a major step toward delisting its shares from the Hong Kong stock exchange on Tuesday, paving the way for the company to become a private entity.
Chinese gamers have historically been staunch PC buffs, but it was rather a Hobson’s choice. From 2000 to 2015 buying an Xbox or a PlayStation was not an easy feat for local youths, since most consoles were simply banned from official sale.