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Games & Commerce

Wemade Q2 operating loss 21 billion won narrows from year earlier

Wemade posted an operating loss in the second quarter as mobile game sales fell and a one-off revenue base effect from the previous quarter weighed on results. The company said it reduced the year-on-year loss through cost efficiency. Second-quarter revenue fell 29 percent from the previous quarter and 7 percent from a year earlier. Wemade plans to expand new game launches, including Night Crows W, to drive a performance rebound.

Games & Commerce

Wemade withdraws royalty lawsuit against Actoz Soft, ending Mir dispute

South Korean game company Wemade said on Sunday it has withdrawn a lawsuit seeking royalty payments over The Legend of Mir 2 and 3 against Actoz Soft and Jin Jeon-gi. The company said the move follows completion of royalty settlements between the parties. The dispute centred on profit-sharing for the jointly held intellectual property. The Supreme Court last December finalised an 80 percent share for Wemade and 20 percent for Actoz Soft.

Games & Commerce

Q1 breaks seasonal slowdown but polarisation widens in South Korea game industry

Major South Korean game companies posted sharply diverging first-quarter results despite the sector’s traditional seasonal slowdown. Larger firms with globally successful intellectual property reported record quarterly sales and profit, while companies facing gaps in new releases or weak early demand remained in the red or saw profitability deteriorate. Nexon, Krafton, NCSoft and Pearl Abyss posted strong gains. Kakao Games and Devsisters reported operating losses, and Webzen saw declines.