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Thanks to southeast Asia, Com2uS sees 2014 sales up 188% to $216 million

Thanks to southeast Asia, Com2uS sees 2014 sales up 188% to $216 million

Korean mobile game publisher Com2uS (KOSDAQ:078340) has announced its FY2014 financials, for the 12 months ending 31 December 2014.

Revenue was $216 million, up 188 percent compared to 2013.

Net profit was $72.9 million, up 309 percent.

Looking at Q4, sales were $77.1 million, up 391 percent year-on-year, but down 4 percent quarter-on-quarter.

Net profit was $21.3 million, up 270 percent, but down 43 percent quarter-on-quarter.

"2014 was about building a foundation with our know-how and showcasing our capabilities through Summoners War," stated Lee Yong Guk, CFO of Com2uS.

Q4 sales were actually down compared to Q3, but Com2uS had a stellar 2014

"We're looking forward to an even bigger year as we continue to provide top-notch titles for every gamer and secure our place as a global leader in mobile games."

Big outside Korea

Unlike Gamevil - another Korean mobile publisher, which has a controlling stake in Com2uS - which saw strong growth from the domestic market, Com2uS' growth was mainly driven by international sales.

International sales accounted for $159 million, or 73 percent of 2014 revenue. This is up 523 percent.

Com2uS' growth has come from outside of Korea

This is a remarkable turnaround for Com2uS, which 12 months ago generated 63 percent of its revenue from Korea.

Asia's the place

The reason was the massive success of two titles: RPG Summoners War and sports game Ace Fishing.

Com2uS actively marketed the games with a strong US campaign at the end of 2014. It also worked with Baidu and Qihoo 360 to break the game within the fragmented Chinese Android market.

And it's in Asia, which now makes up 61 percent of international sales, where Com2uS has seen the strongest growth.

And Asia is Com2uS' key international market

During 2014, North America accounted for 23 percent of sales, Europe 15 percent and LATAM 2 percent.

And Com2uS expects international sales to be the lever that will drive 2015 sales.

Overall, it expects revenue to rise 70 percent, with Korean sales up 37 percent and international sales up 141 percent.

[source: Com2uS]

Contributing Editor

A Pocket Gamer co-founder, Jon is Contributing Editor at PG.biz which means he acts like a slightly confused uncle who's forgotten where he's left his glasses. As well as letters and cameras, he likes imaginary numbers and legumes.

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