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NCSoft 2020 net income up 63.3% on popularity of major mobile titles

By Yonhap

Published : Feb. 5, 2021 - 16:57

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This undated image provided by NCSoft Corp. shows its mobile game Lineage 2M. (NCSoft Corp.) This undated image provided by NCSoft Corp. shows its mobile game Lineage 2M. (NCSoft Corp.)
NCSoft Corp., a major South Korean online and mobile game developer, said Friday its net profit soared 63.3 percent in 2020 from a year earlier thanks to the continued popularity of its major mobile titles.

Net profit stood at 586.6 billion won ($522 million) last year, compared with 359.3 billion won a year earlier, NCSoft said in a regulatory filing.

Operating profit came to 824.8 billion won for the year, compared with 479 billion won the previous year. Annual sales rose 42 percent on-year to 2.41 trillion won.

NCSoft credited its performance to the continued popularity of its major games, such as Lineage M, a mobile version of its major online PC game, and demand for its new mobile game Lineage 2M.

The company's mobile game sales last year jumped 72 percent on-year to 1.67 trillion won.

By region, NCSoft's sales in South Korea came to 2.13 trillion won in 2020, and North America and Europe stood at a total of 944 billion won

Shares in NCSoft added 1.46 percent to 976,000 won on Friday, outperforming the broader KOSPI's 1.07 percent gain. The company reported its 2020 earnings after the session's close. (Yonhap)