Tencent CEO Denies Rumors of Search Market Exit


Pony Ma, chairman and CEO of Shenzhen-based internet company Tencent (0700.HK), has denied rumors that Tencent will exit the PC search engine market after corporate restructuring, stating that Tencent is spinning off its Soso search business which will achieve commercialization by focusing on mobile internet.

"There isn't a so-called "PC search market," said Ma. "While mobile search has some unique characteristics, it is mostly identical to PC-based search. In the future, most terminals will have mobile capabilities, and PCs are one kind of terminal. Soso's core ability is to funnel traffic to all of Tencent's key platforms to support its various businesses, and it plans to commercialize search by means of mobile internet, which will also cover PCs."


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