Popular Phone Games Contribute to Growing App Store
(Beijing) — Mobile app sales surged on Apple’s online App Store in 2016, with China experiencing record annual growth of 90%, largely due to gaming.
The 14 highest-grossing apps in China were all smartphone games, eight of which are developed by tech giant Tencent Holdings Ltd, according to App Annie, which provides app data and research.
Tencent’s revenue from gaming went up by 27% in the third quarter from a year earlier to 18 billion yuan ($2.6 billion), contributing 45% to overall earnings. Most of the gains were the result of the popularity of smartphone games, the company said in a statement.