Welcome to our dedicated page for GRAVITY Co., Ltd. news (Ticker: GRVY), a resource for investors and traders seeking the latest updates and insights on GRAVITY Co., Ltd. stock.
GRAVITY Co., Ltd. (Symbol: GRVY) is a premier developer, servicer, and publisher of online and mobile games, headquartered in South Korea. The company has established itself as a formidable force in the global gaming industry with its iconic titles like Ragnarok Online, Ragnarok II, and Requiem Online. With over 91 markets globally, Gravity's games appeal to a diverse audience, cementing its position in the online gaming sector.
The company’s flagship product, Ragnarok Online, is a renowned MMORPG that has captivated a vast number of gamers worldwide. Gravity continues to innovate and expand its gaming portfolio, with recent launches like Ragnarok Begins in South Korea and Ragnarok Idle Adventure in Thailand, which have achieved top rankings on both the Apple App Store and Google Play.
Gravity is not just confined to online gaming; the company is diversifying its business into mobile gaming, leveraging its popular titles to create mobile versions. The company is also venturing into augmented reality with projects like Ragnarok Real World Experience, a limited-time AR graphic exhibition in Bangkok, Thailand.
On the publishing front, Gravity is executing a multi-use strategy, extending its high-quality content into music, merchandising, and animation. This diversification strategy is aimed at maximizing the brand value and providing multiple entertainment options under the Gravity umbrella.
The company’s financial health appears robust, supported by a diverse revenue stream from online games, mobile games, and character-based merchandise. Gravity has also formed strategic partnerships and established subsidiaries like Gravity Game Arise in Japan, to spearhead game development and publishing in different regions.
Gravity’s future projects include ambitious launches such as KAMiBAKO and TOKYO PSYCHODEMIC in global markets, showcasing their commitment to innovation and market expansion. Moreover, the company is poised to enter the blockchain gaming space with Ragnarok Landverse, an MMORPG based on P2E systems.
For more information, contact Mr. Heung Gon Kim, Chief Financial Officer at kheung@gravity.co.kr, or Ms. Jin Lee, IR Manager at ir@gravity.co.kr.
Gravity Co. (NasdaqGM: GRVY) announced the launch of their new MMORPG, Ragnarok: Novice Hearts, on June 6, 2024, in Taiwan, Hong Kong, and Macau. The game, which revives core elements of the original Ragnarok Online, has quickly climbed the ranks, securing the top spot in Taiwan and Macau and second in Hong Kong for Apple App Store's Top Grossing and Free Game Downloads categories. On Google Play, it ranked first in Free Game Downloads in all three regions. Developed by Gravity Game Vision , a subsidiary in Hong Kong, Novice Hearts features a real-time marketplace, MVP Boss Garden, and large-scale PVP, among other enhancements. The game is available on Google Play and Apple App Store.
Gravity Co., reported its first quarter 2024 financial results with total revenues of KRW 119,779 million, operating profit of KRW 26,869 million, and net profit of KRW 26,866 million. Revenues saw a 17.7% QoQ decrease primarily due to lower online and mobile game revenues. Operating expenses decreased by 25.2% QoQ, but net profit decreased by 26.3% YoY. The company provided business updates on various IP-based games and expansion plans, including launches in China, North America, and new game developments.
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