Gravity Issues Business Updates
March 09 2017 - 6:20AM
GRAVITY ISSUES BUSINESS
UPDATES
Seoul, South Korea – March 9, 2017 – GRAVITY Co., Ltd.
(NasdaqCM: GRVY) (“Gravity” or “Company”), a developer and
publisher of online and mobile games based in South Korea, today
provided following business updates on Ragnarok Online IP-based
mobile games.
- Ragnarok R, a card RPG mobile game
A card RPG mobile game, Ragnarok R(locally titled as RO Xianjing
Chuanshuo : Fuxing), was launched in China on October 18, 2016.
On December 1, 2016, Gravity launched Ragnarok R in Taiwan.
Based on sales rankings in Taiwan*1, Ragnarok R was ranked as one
of the top 10 mobile games at its peak.
On February 10, 2017, Ragnarok R(locally titled as Ragnarok
Revival) was launched in Thailand. Based on sales rankings in
Thailand*1, Ragnarok R was ranked as one of the top 10 mobile games
at its peak. Such game is scheduled to be launched in Korea during
the first half of 2017.
Gravity is the local publisher of Ragnarok R in Taiwan, Thailand
and Korea.
- Ragnarok M, an MMORPG mobile game
On January 19, 2017, Ragnarok M(locally titled as Xianjing
Chuanshuo RO : Shouhuyonghengdeai), an MMORPG mobile game, was
released for an open beta test(“OBT”) in China. During the OBT,
which included testing for billing systems, Ragnarok M was ranked
as one of the top 30 iOS games at its peak, based on sales rankings
in China*1.
X.D. Network Inc., re-licensed by Shanghai The Dream Network
Technology Co., Ltd. (“Dream Square”) to distribute Ragnarok M in
China, began an official service for such game on March 1,
2017.
Ragnarok M is expected to be launched in Taiwan and Korea during
2017.
*1 Descriptions about rankings of the games are based on various
statistical data available from public sources and such rankings do
not necessarily reflect actual profits from such games.
Ragnarok R and Ragnarok M were developed as results of a license
and development agreement between the Company and Dream Square, as
described in a Current Report on Form 6-K dated January 25,
2017.
About GRAVITY Co., Ltd.
---------------------------------------------------
Based in Korea, Gravity is a developer and publisher of online
and mobile games. Gravity's principal product, Ragnarok Online, is
a popular online game in many markets, including Japan, Taiwan and
Thailand, and is currently commercially offered in 78 markets and
countries. For more information about Gravity, please visit
http://www.gravity.co.kr.
Forward-Looking Statements:
Certain statements in this press release may include, in
addition to historical information, "forward-looking statements"
within the meaning of the "safe-harbor" provisions of the U.S.
Private Securities Litigation Reform Act 1995. Forward-looking
statements can generally be identified by the use of
forward-looking terminology, such as "may," "will," "expect,"
"intend," "estimate," "anticipate," "believe" "project," or
"continue" or the negative thereof or other similar words, although
not all forward-looking statements contain these words. Investors
should consider the information contained in our submissions and
filings with the United States Securities and Exchange Commission
(the "SEC"), including our annual report for the fiscal year ended
December 31, 2015 on Form 20-F, together with such other documents
that we may submit to or file with the SEC from time to time, on
Form 6-K. The forward-looking statements speak only as of this
press release and we assume no duty to update them to reflect new,
changing or unanticipated events or circumstances.
Contact:
Mr. Heung Gon Kim Chief Financial Officer
Gravity Co., Ltd. Email: kheung@gravity.co.kr
Ms. Ji Hee Kim IR Manager Gravity Co., Ltd.
Email: ircommunication@gravity.co.kr Telephone: +82-2-2132-7800
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