Toymaker Lego teams up with Chinese internet giant Tencent

Danish toymaker Lego is teaming up with Chinese internet giant Tencent Holdings Ltd (0700.HK) to jointly develop online games and potentially a social network aimed at Chinese children.

Privately-owned Lego has seen a slowdown in sales growth in recent years, but the Chinese market has been a bright spot with sales growing 25-30 percent in 2016.

It is competing with Barbie maker Mattel Inc (MAT.O) and Hasbro (HAS.O), the firm behind My Little Pony, for a slice of the $31 billion toys and games market in China.

Read More – Reuters

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