Korean publisher Gamevil (KDQ:063080) has announced record financial figures for 2009.
Total sales were 24.4 billion Won ($21 million), up 59 percent compared to 2008.
Net income was 11.8 billion Won ($10.2 million): Gamevil says this is the first time a Korean mobile games company has passed 10 billion Won.
Operating profit percentage was 56 percent and net profit percentage was 48 percent, both of which are the highest in Gamevil's corporate history.
Lots of small charges
Sales were driven by games such as Baseball Superstars, the RPG franchise Zenonia and action RGP Hybrid: Eternal Whisper, all of which have been released on mobile and iPhone.
In Korea, the majority of revenue is collected through the micro-transaction sale of virtual items, although Gamevil's yet to employ this business model with its iPhone games.
"The Korean mobile gaming market is one of the most advanced in the world, driven by original titles and new business models such as micro-transactions and network games," said Byung Joon Song, Gamevil CEO.
"We'll do our best to continuously grow now as a global mobile gaming company by developing games optimised for the mobile platform, adopting to new platforms, and leveraging our experience and knowledge that we've accumulated throughout the past decade."
"We're especially proud of the high profit level we were able to achieve," added chief financial officer Yong Kuk Lee.
[source: Gamevil]
News
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.
Top Stories
News
Apr 18th, 2024
Fortis team boosted by top ex-King, PopCap EA, Microsoft and Warner Bros. Games talent
News
Apr 18th, 2024
UK skills crisis prompts call for games industry-led body to tackle key challenges
News
Apr 18th, 2024
AI joins the team at King: "Our challenge is to create the right amount of challenge"
Feature
1 hour, 8 minutes ago
Speaker Spotlight: Xsolla's Chris Meredith on making the most of D2C and today's revenue opportunities
Feature
1 hour, 44 minutes ago
Chart Climbers: Brawl Stars, Legend of Mushroom, Sea of Conquest and more rise up the mobile game revenue rankings
News
Apr 17th, 2024
Monopoly GO! celebrates its first birthday and shares its behind-the-scenes story
Events
HIT Games Conference Istanbul 2024 | Apr 18th | |
Game Job Fair – Spring Edition 2024 | Nordic | Apr 18th |
Arts DAO Fest 2.0 | Middle East | Apr 20th |
App Promotion Summit London | Europe | Apr 25th |
Esports Future Summit | Middle East | Apr 27th |
Dubai GameExpo Summit 2024 | Middle East | May 1st |
The MENA Games Industry Awards 2024 | Middle East | May 2nd |
GameDev Atlantic 2024 | May 4th |