Mobile games company Gameloft said that in the second quarter of 2012, its smartphone and tablet sales grew by 119 percent year-on-year, to represent — for the first time—more than half of its total.

It said that its strong growth in this market is “related to the success of the freemium and paymium models put in place in 2011”.

Gameloft has also taken a positive viewpoint looking forward, targeting EUR205 million full-year sales, up 25 percent year-on-year, and higher than its previously stated EUR200 million goal.

It noted “the momentum of the smartphone and tablet market should continue to sustain Gameloft’s growth in the upcoming quarters”.

The company’s monthly active user base currently stands at 57 million, and more than 60 percent of Gameloft’s smartphone revenue is now derived from in-app purchases and advertising revenue.

In the first half of 2012, North America represented 32 percent of Gameloft’s sales, followed by EMEA (26 percent), APAC (22 percent) and Latin America (21 percent).

For the first half, the company reported a net profit of EUR4.6 million, down 13.2 percent from EUR5.3 million, on revenue of EUR95.2 million, up 24 percent from EUR76.8 million.

The company noted an increase in research and development costs for the period due to a shift in accounting model – console and PC development projects, which were capitalised on the balance sheet, have given way to mobile and tablet development, which is expensed directly to the profit and loss account. This led to a US$3.9 million non-cash charge.