Malathi's Feed
Mar 25, 2014

Facebook to buy virtual reality goggles maker for $2 billion

SAN FRANCISCO (Reuters) – Facebook Inc will acquire two-year-old Oculus VR Inc, a maker of virtual-reality glasses for gaming, for $2 billion, buying its way into the fast-growing wearable devices arena with its first-ever hardware deal.

The acquisition, which comes hot on the heels of its $19 billion deal for messaging service WhatsApp, marks a big bet by Facebook to anticipate the next shift in an evolving technology industry, at a time when consumers are increasingly abandoning their PCs for smartphones.

Mar 24, 2014

Candy Crush game maker’s IPO to face investor scrutiny

SAN FRANCISCO (Reuters) – King Digital Entertainment Plc’s colorful “Candy Crush Saga” has gone viral on smartphones worldwide, but the company may struggle to replicate that enthusiasm with its upcoming $7.6 billion initial public offering.

The flotation this week will be closely watched in the fast-growing $17 billion mobile gaming industry, which is keen to emerge from the shadow of Zynga Inc, which has lost half its value since its 2011 IPO valued it at $8.9 billion.

Mar 19, 2014

Sony unveils prototype virtual reality headset for Playstation

SAN FRANCISCO (Reuters) – Sony Corp unveiled a prototype for a new virtual reality headset accessory for its Playstation 4 games console on Tuesday at the annual Game Developers Conference in San Francisco, as it bids to further acceptance of the concept.

The headset, still in development under the name “Project Morpheus”, is designed to provide an immersive experience for gamers by projecting a virtual reality image in front of their eyes that shifts as it tracks the movement of their head.

Mar 13, 2014

After the Zynga flop, all eyes on King’s coming-out party

SAN FRANCISCO (Reuters) – King Digital Entertainment Plc struck gold with “Candy Crush Saga,” the runaway hit that made its way onto hundreds of millions of smartphones and spawned a $1.5 billion franchise.

Now, the rest of the smartphone game industry is waiting to see if King can pull off a coup in the public markets – and perhaps spur a mobile gaming IPO rush in the process.

Mar 11, 2014

Microsoft counts on shooter game ‘Titanfall’ to fire up Xbox One sales

SAN FRANCISCO, March 10 (Reuters) – Microsoft Corp
is betting on making sci-fi combat game “Titanfall” a hit big
enough to boost sales of its Xbox One videogame device, helping
it catch up in terms of sales with rival Sony Corp’s
PlayStation 4 console.

Retailers are gearing up to get in on the buzz that has
built up around the release of the game, one of the most
anticipated new products for the latest version of the Xbox, by
hosting over 6,000 midnight launch events worldwide.

Mar 6, 2014

Disney overhauls troubled interactive unit, lays off 700

LOS ANGELES/SAN FRANCISCO, March 6 (Reuters) – Walt Disney
overhauled its struggling interactive division in a
sweeping reorganization that will reduce the number of video
games it develops and alter its advertising strategy to focus
more on the fast-changing mobile market.

As part of the revamp, Disney will lay off 700 employees,
roughly one-quarter of the interactive division, according to a
person with knowledge of the layoffs. A Disney spokeswoman would
not confirm the number.

Mar 3, 2014

Zynga plans March soft launch for 3 key titles in mobile revamp

SAN FRANCISCO, March 3 (Reuters) – Zynga Inc said
on Monday it will kick off a soft launch of its “FarmVille 2:
Country Escape” game and two other updated core titles before
the end of March – critical first steps as it seeks to remake
itself as a mobile gaming company.

The games, which include “Zynga Poker” and “Words With
Friends” will roll out on iOS and Android phones and tablets in
select undisclosed markets before officially launching by the
end of June.

Feb 13, 2014

Japanese online gaming firm Nexon’s incoming CEO eyes U.S. acquisitions

SAN FRANCISCO, Feb 13 (Reuters) – Japanese online gaming
firm Nexon Co Ltd will begin to aggressively explore
U.S. acquisitions to further a long-standing plan to expand in
Western markets, its CEO-elect Owen Mahoney said.

“We continue to believe that North America is a big, big
opportunity for us,” Mahoney said in an interview with Reuters
late on Wednesday ahead of the company’s announcement that he
would succeed current Chief Executive Officer Seungwoo Choi in

Feb 13, 2014

South Korea’s Nexon elevating CFO to top spot

SAN FRANCISCO, Feb 12 (Reuters) – Nexon Co Ltd will
elevate CFO Owen Mahoney to the post of CEO in March as the
South Korean online gaming giant begins to aggressively explore
U.S. acquisitions to further a long-standing plan to expand in
Western markets.

Mahoney will succeed chief executive Seungwoo Choi, who has
led the company known for free-to-play PC games like combat
title “Dungeons&Fighters” since 2008.

Feb 12, 2014

Gamers help Nvidia’s fourth-quarter revenue beat Street

SAN FRANCISCO (Reuters) – Nvidia Corp (NVDA.O: Quote, Profile, Research, Stock Buzz) on Wednesday posted higher fourth-quarter revenue that beat expectations, fueled by the graphics chipmaker’s PC gaming components, even as it grapples with an expansion beyond computers and into mobile devices.

With the personal computer industry losing steam, Nvidia has expanded its graphics chips into mobile devices. But it is meeting stiff competition from larger Qualcomm Inc (QCOM.O: Quote, Profile, Research, Stock Buzz) and has responded by increasing its focus on automotive markets and other areas.