Lego teams up with Chinese internet giant Tencent for games, social network

“What we are looking for now with Tencent is just to find more creative ways (of) reaching children, and creating bespoke content with Tencent, in this case, video games,” Jacob Kragh, head of Lego in China, told Reuters on Monday at joint event with Tencent in Beijing. The partnership includes developing a Lego video zone for children on the Tencent video platform, as well as developing and operating Lego branded licensed games, the toymaker said.

It also includes LEGO BOOST – a building and coding set that lets children turn their brick creations into moving objects – and will explore developing a joint social network for children in China. Tencent is Asia’s most valuable company with a market capitalisation of $537 billion. Last year, Mattel struck deals with Chinese e-commerce giant Alibaba Group Holding Ltd and online content developer BabyTree to sell interactive learning products based on its Fisher-Price toys.

Lego has about a 3 percent market share in China, followed by Mattel and Hasbro with around 2 percent and 1 percent, respectively, according to Euromonitor International. In November 2016, Lego opened a factory in Jiaxing, China, which it expects to produce 70-80 percent of all Lego products sold in Asia.

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