NetEase Shares Plunge Amid China’s Delayed Release Of New Game Diablo Immortal

Shares in Chinese gaming giant NetEase plunged Monday after the company indefinitely postponed the Chinese release of blockbuster title Diablo Immortal.

Gamers in the country have been eagerly awaiting their chance to play the game, which was released in western countries early this month.

But co-developer Activision Blizzard said the planned June 23 launch date had been postponed pending “some tweaks to optimize the game”.

NetEase shares plunged more than 10 percent in Hong Kong on Monday, pushing them to their lowest point since September. The benchmark Hang Seng Index was up slightly.

In a statement on Sunday, Activision Blizzard said it had delayed the launch while developers worked on tweaks including support on more devices, high-quality rendering and performance optimizations.

“We believe that the game experience in the officially released version will be smoother and we will bring better game content to everyone,” the company said.

Although NetEase and Activision Blizzard have postponed the launch in other Asian markets to July 8, no new release date has been given for mainland China, Sirbpti News reported.

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Earlier this month, Beijing approved the release of 60 games, the second tranche of new titles to be given the green light this year on the world’s largest gaming market.

The announcements have raised hopes that a lengthy and painful crackdown on the country’s gambling sector will end.

As part of a broader campaign against tech companies, Beijing last year capped children’s playtime and frozen approvals for new games for nine months, knocking the bottom line of many companies, including Tencent.

Arun Agarwal
I am Arun Agarwal, a passionate blogger and gamer. I love to share my thoughts on games and technology through blog posts. I’m also an avid reader of books about history, philosophy, science-fiction, and other genres as well as an anime fan. I like reading books that give me new perspectives or help me think differently about the world around us.