Gamevil’s Smartphone Revenues Climb 259% to $5.6M In Second Quarter


South Korea’s Gamevil said smartphone revenue more than doubled from the same time a year ago to $5.6 million in the second quarter, fueled by titles like its RPG series Zenonia and Baseball Superstars. The company also had a hit last quarter through Air Penguin, a platforming game the company produced with a tiny South Korean gaming studio called Enterfly.

Overall revenue was up 34 percent year-over-year to $9 million with net income of $3.5 million. While Gamevil is showing rapid growth in line with the rest of the industry, its smartphone business is still slightly smaller than those of other companies which have come forward with earnings in the last month. Glu Mobile said it brought in $9.4 million in smartphone revenue this quarter while Capcom said it earned $10.9 million from games on smartphones and social networking sites. Gaming giant Electronic Arts said its mobile revenue climbed 10 percent year-over-year to $57 million in the last quarter (but that figure would include feature phone business).

Still, Gamevil is showing much faster growth than many of its rivals; the company earned about $2.8 million in smartphone revenue last quarter. Given how well the Air Penguin partnership worked out, the company is ramping up deals with third-party developers. It recently announced a $10 million fund that independent studios can apply for to fund the production and marketing of their games.