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Tencent

East Asian market has untapped potential, they are heavily on PC gaming or not gaming at all

China alone can carry some hardware iteration until they finally can take off intentionally

Moreover China is much more sensitive to demand and specifications of growing and emergent markets like SEA, Latam and Middle west. Nintendo is the opposite their bussines strategy focus solely on rich markers and let ROW collecting dust, and Sony is increasingly following the same patterns with price increases across the board and no price localization of digital stores 

This can give them a competitive advantage to increase userbase enough to compete with Sony and Nintendo, even if they keep being a minor player in USA