Malathi's Feed
Mar 27, 2014

GameStop shares fall as 2014 forecast disappoints

March 27 (Reuters) – Video game retailer GameStop Corp
, forecast full-year earnings below market expectations
as it is yet to see an uptick in sagging video game software
sales, despite robust hardware sales driven by the launches of
Microsoft’s Xbox One and Sony’s PlayStation 4 consoles.

GameStop shares fell as much as 9.3 percent in morning
trading on Thursday, making the stock one of the top percentage
losers on the New York Stock Exchange.

Mar 26, 2014

Candy Crush maker King Digital shares sour in market debut

By Neha Dimri and Malathi Nayak

(Reuters) – Shares in King Digital Entertainment Plc fell as much as 15 percent in their Wednesday debut, underscoring concerns about the company’s reliance on “Candy Crush Saga” and dashing hopes its coming-out party would revive investor interest in the mobile gaming industry.

Mobile gaming executives had looked to London-based King’s IPO, the largest by a gaming company since Zynga Inc went public in 2011, to help sweep aside skepticism over a notoriously fickle, volatile market.

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
March.