Gravity and KongZhong reveal Q3 revenues

Big year-on-year increases

Gravity and KongZhong reveal Q3 revenues

South Korean firm Gravity and Chinese company KongZhong have announced their Q3 financial results, and both revealed big year-on-year increases in their mobile games revenues.

Gravity generated 1.6 billion Korean Won (around $1.3 million) from games in Q3 – a rise of 100.5% from Q3 2007, although down 22.3% from Q2 this year.

The company attributes its year-on-year increase to new games released by its Neocyon subsidiary.

Meanwhile, KongZhong says it made $2.37 million from mobile games in Q3 thanks to the "rapid growth" of the market in China – 179% up year-on-year, and 63% more than in Q2 this year.

Mobile games were 10% of the company's revenues in Q3, but in the ensuing conference call, chairman and CEO Leilei Wang said the company expects this to rise to 20-25% next year.

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Stuart is a freelance journalist and blogger who's been getting paid to write stuff since 1998. In that time, he's focused on topics ranging from Sega's Dreamcast console to robots. That's what you call versatility. (Or a short attention span.)