Hong Kong-based internet giant, Tencent, is set to invest RMB1bn ($158m) to encourage businesses to develop antivirus software for smartphones.
This latest move will allow smaller companies to develop their own antivirus software independently. In June, Tencent – which became one of 43 constituents in the Hang Seng Index in 2008 – invested in US-based Epic Games and its Unreal 3D Engine gaming technology and the franchise which has attracted millions of players worldwide on mobile, PC and console platforms. This in turn came a month after the appointment of John Lo to chief financial officer of Tencent following his tenure as deputy.
Tencent CEO, Ma Huateng said around 58% of Android applications leak private information – a practice which new antivirus software is set to prevent – in which 25% of them even sent information in encrypted code.