[Click eStock] "Neowiz Reveals Lies of P DLC Price... Annual Estimates Raised"

Hana Securities announced on May 23 that it is raising its annual earnings estimates for Neowiz, now that the price of the Lies of P DLC has been set. The firm maintained its 'Buy' investment rating and raised its target price to 36,000 won.

On the previous day, Neowiz revealed the price, gameplay footage, and new illustrations for 'Lies of P: Prologue.' The price of this DLC is $29.99, which is about half the price of the original package.

Hana Securities forecasts that Neowiz's operating revenue and operating profit for this year will reach 383.3 billion won and 48.2 billion won, respectively, representing year-on-year increases of 4.4% and 44.9%. Lee Junho, a researcher at Hana Securities, stated, "Because content and convenience updates will be implemented simultaneously with the DLC launch, a rebound in sales of the original package is fully possible, and we consider the current estimates to be conservative."

He added, "Neowiz is also developing a sequel to Lies of P, which will be set in the world of The Wizard of Oz, and information is expected to be released in the second half of 2026. Since the game has already been recognized by global users and has strong appeal, we expect the sequel to achieve higher sales than Lies of P."

He went on to say, "Neowiz's Lies of P is expected to lead the serialization of domestic IPs, progressing from original package to expansion DLC to sequel. We forecast five-year cumulative sales of 15 million units for the series, 7 million units for series 2, and 10 million units for series 3."