Gamevil posts record overseas sales, turning profit of $1.7m
Chinese revenues up by 46% as online games reap rewards
Korean mobile publisher Gamevil has released financial details for the third quarter of FY 2013, posting record revenues of 12.2 billion KRW ($11.4 million) for money earned outside Korea, representing a 108 per cent increase on the same period last year.
Total sales for the company's quarter were up 26 per cent to 21 billion KRW ($19.6 million USD), resulting in a net profit of 1.8 billion KRW ($1.7 million), a figure which is slightly down on previous quarters thanks to investment costs. The Greater China region was the fastest growing of all foreign territories, seeing an increase of 46 per cent in revenue.
"Gamevil attributes its growth in core genre sales to its live services," a press statement explains. "Titles such as 'Monster Warlord' and 'Fishing Superstars', which have currently been in the market for more than 16 months, have continued to do well in the box office. Through constant updates and live events, sales have increased 20% compared to the previous quarter. With titles such as 'Dark Avenger' and 'Perfect Inning 2013 KBO' growing as well, Gamevil is finding success in the mid-core space, recording higher ARPU and revenues than ever before."
Earlier this year, Gamevil acquired one of its earliest competitors in the shape of Com2Us, followed quickly by striking agreements with Nine Wheels, Everple and Dbros. Earlier investments secured the company a foothold in Thailand.
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