New milestones for sales, operating income and profit.
2010 was a good year for South Korean mobile games publisher Gamevil, it's fair to say.
The company broke its records for revenues, operating income and net profit last year, reporting sales of KRW 28.5 billion (around $23.5 million), up 17% year-on-year.
Gamevil's operating income was up 14% to KRW 15.5 billion (around $13.8 million). Meanwhile, the company posted a net profit of KRW 14.8 billion, up 25% from 2009.
So what fuelled the company's growth in 2010? Gamevil cites big sales for franchises like Baseball Superstars and Zenonia, as well as new games Soccer Superstars and Illusia.
The publisher continues to do well from virtual item sales, which accounted for 47% of its revenues. Sales outside Korea from Apple's App Store and Google's Android Market also helped the company to grow.
Article continues belowAdvertisement
This year, Gamevil plans to release more than 22 games, doubling its release slate of 11 games in 2010. Social and smartphone gaming will be key.
"Many changes are expected in devices, networks and business models in 2011," says CFO Yong Kuk Lee. "By facing them head on, we strive to grow in both scope and revenue as a global mobile gaming company."
South Korea has traditionally been one of the most advanced mobile gaming markets in the world, for connected and 3D games, and also for virtual items. Now Korean publishers like Gamevil and Com2uS are looking to capitalise on their domestic experience in Western app stores too.
Add a new comment
You need to be logged in to post comments. If you do not have an account then please register.
Comments
0 comments
There are no comments yet, be the first to add one!