Gamevil Q2 2012 sales dip 7.8% Q-over-Q to $13.4M, as net profits rise to $5.2M

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By Kathleen De Vere Comment

South Korea’s Gamevil has posted its Q2 2012 results, reporting total revenues of 15.2 billion KRW ($13.4 million), up 96 percent year-over-year, but down 7.8 percent from the company’s Q1 sales of 16.5 billion KRW ($14.6 million). The company’s net profits for the quarter were 5.9 billion KRW ($5.2 million), up 56 percent year-over-year and 13.4 percent over Q1’s 5.2 billion KRW ($4.6 million).

While Gamevil’s total sales dipped slightly in the second quarter, overall the first half of the 2012 fiscal year was the best the company had ever seen, with 31.8 billion KRW ($28.1 million) in sales and 11.1 billion KRW ($9.8 million) in net profits.

Gamevil chalked up the results to its smartphone sales. The company now has almost 150 million smartphone customers and is seeing significant growth in sales, both domestically and internationally. During Q1 and Q2, the company’s South Korean smartphone sales increased by 67 percent year-on-year. International smartphone sales for the first half of the year were even stronger, growing by 161 percent year-over-year.

The company’s top performing titles for the quarter were games in its Baseball Superstars series, the Zenonia series and Cartoon Wars. In the second half of the year, the company plans to release new Baseball Superstars and Zenonia games, as well as three new mobile social games called Kingdom Royale, Monster Warlord and Train City Mobile. The company is also investing further in the Gamevil Partner Fund, and focus more on distributing its games to China and Japan.