Giant bets big on mobile games business
Print Edition
GIANT Interactive said yesterday it plans to generate 2 billion yuan (US$322 million) this year from mobile games business with aggressive marketing and reserved intellectual property.
The company, which completed a US$3 billion privatization from the New York stock market last year, is considering listing on the domestic market.
By 2016, Giant hopes to earn 3 billion yuan from the mobile game business, said Ji Xuefeng, president of the Shanghai-based company.
“I don’t care about profits from mobile games in the next two or three years because it is a business strategy for us,” Ji said.
The company plans to invest heavily on acquiring strong IPs based on films and novels, kicking off mobile version of existing PC games and introducing overseas mobile games into China. It has launched games based on Chinese animation film “Black Cat Cop” and mobile versions of popular ZT Online, and will cooperate with US developer Super Evil Megacorp to introduce Vainglory in China.
The US$3 billion privatization allowed Giant to fund its mobile expansion when Chinese consumers were spending more time on mobile games rather than PC games, analysts said.
China’s mobile game market revenue reached 26.8 billion yuan in 2014, with a growth rate of 109 percent compared to 29 percent of the total game market growth, according to a Ministry of Culture report.
Globally speaking, more than 800 million people play games on PC, compared to 3 billion on touch-screen mobile devices, suggesting a huge growth potential for mobile games.
Giant is waiting for the right time to list on the domestic stock market with a market value “starting from 100 billion yuan,” Ji said yesterday.
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