Gamevil Reports Millions in Profits in 2009

Gamevil may not be the biggest iPhone game developer, but judging from their annual reports, they’re doing just great. The company is reporting big gains for the year not just in sales, but in profits as well. Sounds like we can look forward to some more Zenonia and Hyrbid-style games next year.

Their net income for the entire year was reported at $21 million USD, although it’s way more fun to refer to it in terms of Gamevil’s native currency, the Korean Won, which adds up to a massive-sounding 24.4 billion. That’s the total income, though. The amount they actually earned after development expenses is $10.2 million USD, still a highly impressive sum, and Gamevil claims that it’s the first Korean mobile gaming company to post annual earnings over $10 million USD.

This comes as a result of huge 59% increase in sales. They attribute this success to great performances from their Baseball Superstars series, as well as new franchises like Hyrbid: the Eternal Whisper and Zenonia. All three games were awarded our “Must Have” score, so it’s great to see that these amazing games are also selling well.

Besides Zenonia 2, Gamevil has yet to announce more sequels, but this is very good news if you’re a fan of their games. It’s practically certain that we’ll see sequels or spiritual successors to Hybrid and Baseball Superstars. Moreover, these numbers should give more confidence to companies interested in developing longer-form RPGs on the platform. Now that Gamevil has proven that large profits can be made, we may see more companies willing to take the risk.

The RPG market is likely to continue to grow as Gamevil pumps out more titles, and as Square Enix begins bringing its Final Fantasy series to the iPhone, along with their mystery RPG.

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