TAIPEI, Taiwan, Jan. 2, 2012 /PRNewswire-Asia-FirstCall/ --
GigaMedia Limited (NASDAQ: GIGM) ("GigaMedia") announced today that
its China online games platform
Jidi Joy has acquired a specialized
Web-based social games development team in Shanghai and expects to roll out the first of
its new proprietary social network games in March 2012.
"We are making rapid progress in China, positioning ourselves to benefit from
two powerful market forces in online games: the ongoing shift into
Web and mobile platforms and the continued strong popularity and
growth of social games," stated Jidi
Joy Chief Executive Officer John
Huen. "Web-based and social games are projected by industry
analysts to grow at up to triple-digit rates in China – faster than traditional client-based
or PC games."
"This SNS-focused R&D team is a crucial extension of our
business in China," stated Jidi
Joy CEO John Huen. "Beta testing is
now scheduled for late March 2012; we
expect to launch multiple new games in China this year on our platform as well as on
high-traffic social networking portals and are excited about the
opportunities this creates for us."
The cornerstone of GigaMedia's growth initiatives in
China, Jidi Joy is a developer and operator of online
games in Shanghai. The company is
led by a team of industry veterans and is a fully-licensed,
full-service online game platform with ISO 9001 certified customer
service and technical support.
About GigaMedia
GigaMedia Limited (Singapore
registration number: 199905474H) is a major provider of online
entertainment software and services. Through its subsidiaries,
GigaMedia develops and operates a suite of online games in
Asia, covering all regions of
Greater China and Southeast Asia. More information on GigaMedia
can be obtained from www.gigamedia.com.
The statements included above and elsewhere in this press
release that are not historical in nature are "forward-looking
statements" within the meaning of the "safe harbor" provisions of
the Private Securities Litigation Reform Act of 1995. GigaMedia
cautions readers that forward-looking statements are based on the
company's current expectations and involve a number of risks and
uncertainties. Actual results may differ materially from those
contained in such forward-looking statements. Information as to
certain factors that could cause actual results to vary can be
found in GigaMedia's Annual Report on Form 20-F filed with the
United States Securities and Exchange Commission in June 2011.
SOURCE GigaMedia Limited