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Korea is still doing the business for Nexon

Korea is still doing the business for Nexon

November 13, 2014 | By Mike Rose

Nexon's success in Korea continues to surprise the company. During its third fiscal quarter, Nexon experienced better-than-expected profits as its Korean subsidiary exceeded expectations.

The company says that its mobile endaveours in Korea are proving rather fruitful. Legion of Heroes for Kakao has seen over 4 million downloads to date since its launch in July, while Three Sword Heroes has consistently stayed in the Google Play top grossing charts.

Meanwhile, FIFA Online 3 saw increased user numbers due to the "continued tailwind from the FIFA World Cup," says Nexon -- in fact the game saw record-high sales in September, while the mobile version is consistently ranking in the top 10 top grossing on Google Play.

While revenue saw a 64 percent rise year-over-year in Korea, this is having to offset a downward trend for Nexon in Japan, where both mobile and PC game revenue is dropping -- down 17 percent year-over-year.

Still, Korea is counteracting this drop and then some. For the quarter ended September 30, 2014, Nexon reported revenues of 45.6 billion yen ($394.8 million), up 14 percent year-over-year, and profits of 13.6 billion yen ($117.7 million), up 69 percent year-over-year.

This compares to the company's previous forecasts of around 40 billion yen ($346.2 million) in revenue, a difference of 10 percent compared to the actual result, and forecasted profits of around 8 billion yen ($69.2 million), a difference of around 70 percent compared to the actual profits.

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