Gamevil reports biggest quarter with 66% growth for Q3 2012

South Korean Mobile game developer and publisher Gamevil today reported 16.6 billion KRW ($15.3 million) in sales for its fiscal Q3 2012, 5.6 billion KRW ($5.15 million) in operating profit and 4.9 billion KRW ($4.5 million) in net profits, which reflect growths of 66 percent, 26 percent and 21 percent respectively.

Gamevil attributes the growth to the company’s $10 million investment in the Partner Fund, which helps external and third party partners to build a strong lineup of smartphone gaming titles.

The company specifically cites global and domestic success with titles such as Fishing Superstars, Monster Warlord and Kingdom Royale that integrate social network elements to the role-playing genre. These social network games now account for nearly 40 percent of the sales this quarter, compared to12 percent in the last quarter and 0 percent for its fiscal Q3 2011.

Gamevil also noted significant growth in Asian countries, especially Japan, where its flagship titles Baseball Superstars 2012 and Zenonia 4, showed steady performance.

Not surprisingly, Gamevil also reported that their business is rapidly shifting from feature phones to smart phones and from pay to play to in-app purchases. Sales on smart phone devices increased from 64 percent to 94 percent from 2011 to 2012, and in-app purchases increased from 65 percent to 92 percent.