South Korean publisher Gamevil (KDQ:063080) has announced its Q3 2011 figures for the three months ending 30 September.
Sales were 10 billion Won (around $9 million), up 40 percent year-on-year.
Net income was 4 billion Won (around $3.6 million), up 26 percent.
The company put this rise down to strong growth in both domestic and international smartphone sales thanks to annual releases such as its Baseball Superstars and Zenonia series.
Smartphone meets IAP
In addition, Gamevil pointed to the success of its $10 million developer fund in attracting third party developers, and resulting in the successful release of games such as Air Penguin, Destinia and Cartoon Wars.
Indeed, revenue from smartphones constituted 79 percent of the company's total, up 497 percent year-on-year.
Also significant was the announcement that 79 percent of sales were generated from in-app purchases, up 159 percent, even though most of Gamevil's releases are paid. (Obviously, the fact that smartphones and IAP accounted for the same revenue total is coincidental; it's not the same revenue per se.)
Besting best
"We are continually besting our previous quarter results with higher quality in-house and published titles in various genres," commented Yong Kuk Lee, CFO.
"Gamevil will continue to build upon this momentum to capture the ever-growing global smartphone audience. Going forward, we are confident that maturing freemium models, the Games category opening on the Korean application stores will all make significant contributions."
[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
Feature
May 17th, 2024
New release roundup: The best new mobile games from a battle royale to a console classic remake
Feature
May 16th, 2024
Behind the scenes: How adding sandwich offers to an idle merge game boosted three metrics at once
Events
Digital Dragons | Europe | May 19th |
GamesBeat Summit 2024 | North America | May 20th |
Mobidictum Meetup Tallinn May 2024 | Europe | May 21st |
Nordic Game Spring 2024 | Nordic | May 21st |
Impact 2024 - Indie Games | May 23rd | |
Morocco Gaming Expo | Africa | May 24th |
MomoCon 2024 | North America | May 24th |
Unreal Fest Gold Coast 2024 | Australasia | May 29th |
Popular Stories
Feature
May 14th, 2024
53 top mobile games in soft launch: Squad Busters, Battle Guys: Royale, Plants vs. Zombies 3, LEGO Hill Climb Adventures, and more
Feature
May 13th, 2024
Hot Five: Dubai's new Gaming Visa, April's mobile game charts, and Xbox studio closures
Interview
May 13th, 2024