Rumor: Tencent to Purchase Handset Manufacturer

Sootoo, 3/11/14

According to sources familiar with the matter, Chinese internet and mobile services firm Tencent (0700.HK) has been in close contact with several mobile handset manufacturers, with the intention of making an acquisition or investment in the mobile handset space.

Tencent has reportedly met with manufacturers including OnePlus Technology, IUNI Technology, Chuizi Technology, and Meizu Technology, among others. The rumor follows previous reports claiming that Tencent is in talks with television and consumer electronics manufacturer Konka (200016.SZ, 000016.SZ) regarding a strategic investment, which, in addition to giving Tencent a stake in Konka, would also see Tencent enter to the burgeoning smart appliance market.

Tencent has not yet commented on the rumors.

Keywords: handset investment wireless Tencent Meizu 0700.HK Chuizi Technology IUNI handset vendor M&A OnePlus

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