Gamevil, a South Korea-based developer, said that it maintained the highest operating profit margin in the country’s mobile games industry, at more than 40 percent during the first quarter of 2010. Compared to the first quarter of 2010, its consolidated overseas revenue increased by 37 percent and revenue on smartphone platforms increased by 211 percent, “showing growth from successful moves in line with shifting market trends.” According to Yonk Kuk Le, its EVP and CFO, “we expect even more growth coming from smartphones and overseas in the second quarter.”

For the three months to 31 March 2011, the company reported a net profit of KRW2.5 billion (US$2.3 million) on revenue of KRW6.4 billion. It did not provide comparative figures for the first quarter of 2010. During the period, expenses increased from new hires and business investments, while a smaller number of new titles were also released. It noted that its “second quarter looks to be much stronger, with the release of 9 new titles for global app stores such as Apple’s App Store and Google’s Android Market.” In addition to delivering new titles optimised for overseas and domestic smartphones, Gamevil plans to continue expanding its reach in social networking games, and well as undertaking partnerships for external publishing projects.

The company previously said that having released a total of 11 titles in 2010, it was intending to “more than double” this in 2011.