Tencent Holdings Limited (TCEHY)

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Meta Platforms makes progress in talks with Tencent to sell Quest VR headset in China - WSJ
By: Investing.com | July 3, 2023

Meta Platforms (NASDAQ:META) has reportedly made progress with Tencent (OTC:TCEHY) on a virtual reality (VR) headset partnership, according to the Wall Street Journal.

The company held discussions with several Chinese tech companies after CEO Mark Zuckerberg questioned his firm’s China stance, asking if Apple (NASDAQ:AAPL) can sell iPhones in China, and Tesla (NASDAQ:TSLA) can sell cars, why can’t Meta sell its devices in one of the world’s largest markets?

Still, the company’s China push has hit multiple challenges, in part because Chinese executives worry that Zuckerberg isn’t seen as friendly to China.

Tencent (HK:0700) had its own concerns when it comes to partnering with Meta before Chairman Pony Ma decided to proceed with the negotiation. One of the challenges mentioned in the WSJ article is how Meta would roll out content in China, the people said.

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