[Asia Economy Reporter Hyungsoo Park] Sconex stock price is on the rise. The expanding virtual reality (VR) game market is believed to be influencing the stock price positively.
At 9:51 AM on the 14th, Sconex was trading at 14,750 KRW, up 7.35% from the previous day.
Founded in 2002, Sconex is a game development company. Initially, it mainly developed console games, but since 2012, it has started developing VR games. In 2015, it commercialized the first game for Samsung Gear VR. In 2017, it released 'Mortal Blitz,' a game for Sony PS VR.
Researcher Hwang Se-hwan from FS Research explained, "In terms of development capability, it is competitive enough to have recorded the number one worldwide downloads," and added, "As of cumulative sales in the third quarter of this year, XR education and training business sales account for 45% of the total."
He continued, "Omdia forecasts that VR sales, which are around 12.5 million units this year, will increase to 72 million units by 2027," and expressed expectations that "VR sales will inevitably increase due to the dimensionally different immersion advantage."
Researcher Hwang analyzed, "When smartphone sales increased in 2011, mobile game stocks surged," and added, "After 10 years, there are quite a few mobile game companies recording operating profits exceeding 100 billion KRW."
He emphasized, "Sconex is developing two games for Meta Quest among VR devices," and added, "Meta, which is expected to record cumulative sales of about 20 million units this year, dominates more than 70% of the VR device market." Furthermore, he stated, "The VR market is growing, and they are developing games targeting the largest customers. Since Meta acquires 2 to 3 VR game companies annually, Sconex should also be noted in line with the expansion of the VR market."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
