Korean mobile game publisher Com2uS (KOSDAQ: 078340) has announced its financial results for the 3 months ending 30 June 2013.
Revenue was 20.3 billion KRW (around $18 million), down 8 percent year-on-year.
Net income was 3.3 billion KRW ($3 million), down 46 percent.
Everyone's at it
Breaking out the company's performance geographically, sales in Korea were down 10 percent year-on-year to 12.1 billion KRW ($10.5 million).
Com2uS said that Korean sales declined as its new games didn't perform as well as expected.
The Korean market - while booming - is now experiencing strong competition, especially on the vital Kakao Game Platform.
While Com2uS has had some success on Kakao, the top games currently come from the likes of Devsisters, WeMade and CJ E&M.
International sales were down 6 percent to 6.9 billion KRW ($6 million).
However, Golf Star has done well internationally and combined with sales from the 9innings Pro Baseball 2013 franchise, this meant the publisher's sport games have performed relatively well.
Revenues from previously strong genres such as social title Tiny Farm and RPGs like Heroes War have declined, however,
Looking more broadly, Com2uS put a positive spin on the results, pointing out that its half year 2013 sales were up 38 percent to 42.8 billion KRW ($37.5 million).
It will look to turn around its performance in Q3 2013 with 10 new games, seven of which will be third-party publishing deals.
[source: Com2uS IR]