Lego has teamed up with Chinese internet giant Tencent to create branded video games and potentially a new social network aimed at children, the two companies announced Monday.
Tencent is one of Asia`s most valuable companies and is a massive player in mobile gaming and online video streaming.
Lego has struggled in recent times and was last year forced to cut around 1,400 jobs.
China is a bright spot for Lego, however, with revenues growing double-digit versus declines in the U.
and parts of Europe in the first half of 2017, the last time it released financial figures.
The toy-maker has been pushing further into China to help stoke growth.
Lego will develop a 'video zone' for children on Tencent`s video streaming platform as well as Lego-branded games.
Lego`s partnership also includes Lego Boost, a building and coding set that brings movement to its brick creations.
The two companies also said they will explore co-developing Lego Life, a 'safe social network for children' in China.
The Danish firm faces competition in China from rivals.
Last year, Mattel, the maker of Barbie, announced a deal to sell its products in China via Alibaba`s marketplace website Tmall.
Tencent is one of Asia`s most valuable companies and is a massive player in mobile gaming and online video streaming.
Lego has struggled in recent times and was last year forced to cut around 1,400 jobs.
China is a bright spot for Lego, however, with revenues growing double-digit versus declines in the U.
and parts of Europe in the first half of 2017, the last time it released financial figures.
The toy-maker has been pushing further into China to help stoke growth.
Lego will develop a 'video zone' for children on Tencent`s video streaming platform as well as Lego-branded games.
Lego`s partnership also includes Lego Boost, a building and coding set that brings movement to its brick creations.
The two companies also said they will explore co-developing Lego Life, a 'safe social network for children' in China.
The Danish firm faces competition in China from rivals.
Last year, Mattel, the maker of Barbie, announced a deal to sell its products in China via Alibaba`s marketplace website Tmall.
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