[Asia Economy Reporter Hyunseok Yoo] Vespa announced on the 27th that it recorded sales of 17.3 billion KRW, an operating loss of 8.5 billion KRW, and a net loss of 7.8 billion KRW based on consolidated financial statements for the third quarter. Sales slightly declined by 0.5% compared to the same period last year, maintaining a similar level. The operating loss was due to continuous investments in developing new games.
Vespa plans to sequentially release mobile new titles prepared so far starting from 2021, based on its proven in-house development capabilities and global service know-how demonstrated by the long-term success of its flagship game, "King's Raid."
First, the subsidiary Nexon Exciting is scheduled to launch the mobile game "Time Defenders" in the first quarter of 2021. Afterwards, including the well-established mobile RPGs such as "King's Raid Season 2: Remaster," "Project CA," and "Project OP," Vespa aims to expand its influence in the global market by introducing well-made new titles across various genres.
A Vespa representative stated, "If 'King's Raid' led Vespa's first growth, the various new titles across different genres to be released in 2021 are expected to act as a catalyst for Vespa's second growth." He added, "In addition to Vespa headquarters, the continuously growing Vietnamese subsidiary Bombus and Japan's Hive, which is developing game content with various IPs, will also play important roles in Vespa's strategy."
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