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Games & Commerce

Kakao Games eyes turnaround with management shake-up and new game push ahead of new top shareholder

Kakao Games is moving to replace its management ahead of a change in its largest shareholder from Kakao to an investment vehicle funded by Line Yahoo. The company plans to appoint two internal directors who are expected to become co-CEOs and to name a non-executive director from Petrico Partners. It also outlined five new game releases from the third quarter through year-end as it seeks a turnaround after six consecutive quarterly losses.

Games & Commerce

KakaoGames seeks turnaround with seven new titles, expands beyond mobile to PC and consoles

KakaoGames plans to pursue a turnaround with a two-track strategy of rolling out 7 new games from this year through next year while continuing to operate its existing live-service titles. Its new lineup aims to move beyond a mobile-focused structure by expanding to PC and console platforms and increasing its focus on global markets. The company also plans to sustain launch momentum on the back of stable revenue from live games and regular updates.

Games & Commerce

Kakao Games posts Q1 operating loss of 25.5 billion won, prepares new titles including \'Odin Q\'

Kakao Games posted a first-quarter operating loss of 25.5 billion won as revenue fell due to declining sales from existing live games and a lack of new releases. Quarterly sales came to 82.9 billion won, down 33 percent from a year earlier and 16 percent from the previous quarter. PC online game revenue rose 4 percent to 27.9 billion won, while mobile game revenue fell 43 percent to 55.0 billion won.