Angry Birds creator Rovio's profit slashed by half
Published on Apr 29, 2014 12:06 AM
HELSINKI (AFP) - Rovio, the Finnish maker of the popular mobile game "Angry Birds", on Monday reported a 50 per cent drop in profits in 2013 as it increased investment to face growing competition.
Net profits dropped to 26.9 million euros (S$46.8 million) from 55.5 million euros in 2012, while revenue slightly increased by 2.5 per cent to 156 million euros.
The company, which had revenues of 5.4-million euros in 2010, wants to expand beyond the video games business to become a global entertainment firm.
"Angry Birds" involves using slingshots to launch little birds at fortresses built by green pigs. Highly addictive, it quickly became the most successful mobile game in history, and has spawned an entire franchise of merchandise and media tie-ins.
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