China contributed half of the global app downloads
According to the data credited to research firm App Annie, China accounted for half of the worldwide mobile application downloads, and 40% in-app consumption. Despite the clamp down on issuing gaming licenses in China, paid users of the industry reached between $25 billion and $30 billion, up by 105% since 2016, compared to the international consumption $74 billion. Though China’s market received a backlash on mobile devices demand, its application business is still thriving. The highlight of the report, Tencent, reported being the company on which consumers spent most, by owning a stake in several startups, companies, and games.