Just around four months after an IPO which raised hundreds and millions of dollars, mobile games studio gumi has taken a dramatic turn in fortunes. The company announced plans to lay off about 11 percent (around 100) of its employees and that it would also sell two of its gaming assets. This follows the loss of USD 5 million for the fiscal year and the corruption in South Korea.
According to various industry reports, Brave Frontier’s overseas results failed to match those in domestic Japan, where the game remains really popular. Other games in the stable, such as Chain Chronicle, failed to fill the missing revenue. Another reason points to the delay of some new games in gumi’s publishing schedule. Whatever the reason, gumi is in for a tough year ahead.
