Korean mobile games publisher Com2uS (KOSDAQ: 078340) has announced its unaudited financial results for Q3 2010.

Total revenue was 6.5 billion Won ($5.8 million), down 26 percent year-on-year.

Net income was 0.9 billion Won ($0.8 million), down 57 percent.

Revenue for the nine months to-date was 20.1 billion Won ($18 million), down 16 percent year-on-year.

Net income for the same period was 2.9 billion Won ($2.6 million), down 28 percent.

Smartphone surge

In terms of platform breakdown, 36.8 percent of revenue in Q3 came from smartphone game sales, 55.8 percent from feature phones and 7.3 percent from other activity.

The proportion of revenue from smartphones is growing fast. It only accounted for 18.8 percent of revenue in Q2 and 4.9 percent in Q3 2009.

In absolute terms, smartphone revenue was up 454 percent year-on-year and 91 percent quarter-on-quarter.

In terms of explaining the quarter's decline, Com2uS said it hadn't released a major title in its domestic and overseas markets during the three months due to delays.

However, it said Homerun Battle 3D and Slice it! (which was released on the App Store during that period), both sold well however in the smartphone category.

[source: Com2uS]