Latest news for NEXON Co (OTC:NEXOY) Stock

NEXON Co Ltd provides engaging, high quality, geographically unique games to international users through the development and service of PC online and mobile games. The company's major PC online titles include MapleStory and Dungeon&Fighter and their mobile games include HIT and DomiNations. The games are in approximately 200 countries including China, Korea, Japan, North America, and Europe. The PC segment is responsible for a majority of revenue, while the Mobile segment accounts for a smaller portion. Geographically, over half of the company's revenue is derived from China, roughly one quarter is derived from Korea, and the remainder is derived from Japan, North America, and Europe & Others.

shutterstock_2019437594

Gaming

News

NEXOY

NTES

TCEHY

Tencent announces the shutdown of Synced, a year after launch, highlighting challenges in the competitive live service game market.

Chinese Megacorp Tencent To Shut Down Synced, Ending Another Live Service Game&#39;s Run

Asia

Global

Markets

Tech

BILI

Tencent, NetEase, and other major players have faced earlier losses due to regulatory clampdowns. 

Tencent Stock Takes $54B Hit As China Introduces New Online Gaming Regulations

Media

CCOEY

NTDOF

NTDOY


	Saudi Arabia&#39;s Public Investment Fund now owns an 8.3% stake in Nintendo Co, Ltd (OTC: NTDOF) (OTC: NTDOY), becoming its largest outside shareholder.


Saudi Arabia&#39;s PIF Ramps Up Stake In Nintendo, Deeping Its Foray Into Gaming Sector

NEXON Co Ltd

NEXON Co., Ltd. (NEXOF) Q1 2024 Earnings Call Transcript

Nexon reports Q1 results

Tencent suspends much-awaited game on debut due to server issue -report

Tencent's new game DnF Mobile brings in over $140M in 1st week - report

U.S. video game sales fall 3% in April, led by a 43% drop in hardware sales

Bilibili jumps after launch of mobile game Three Kingdoms

Bilibili jumps after launch of mobile game 'Three Kingdoms'

Tencent removes new game 'DnF Mobile' from some Android app stores - report

Tencent's new game 'DnF Mobile' off to a blazing start, doubles 'Honor of Kings' sales in 1st month - report

Tencent's game 'DnF Mobile' keeps rival Mihoyo's new game at bay in player spending - report

AAPL

CRSR

ESPO

GAMR

GOOG

GOOGL

HEAR

KONMY

LOGI

MSFT

NCBDY

NERD

NEXOF

RBLX

SGAMY

SKLZ

SONY

SQNNY

TCTZF

TTWO

UBSFY

Entertainment

Press Releases

General

MapleStory Universe presented about designing innovative blockchain-based MMORPG at GDC 2024

MapleStory Universe Pre-Launch Campaign -- 'MapleStory Universe: The Genesis' Begins on June 24

MAPLESTORY N KICKS OFF REGISTRATION FOR PIONEER TEST TODAY

TYO:3659

NEXON Co

Tencent Holdings ADR (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCEHY#OTC">TCEHY</a>) has announced plans to terminate Synced, its free-to-play co-op shooter, just a year after its launch. 



Developed by NExT Studios and published by Tencent&#8217;s global games brand, Level Infinite, Synced hit the market in September 2023, IGN<a href="https://www.ign.com/articles/another-live-service-bites-the-dust-as-tencent-shuts-down-f2p-flop-synced-a-year-after-launch"> reported.</a>



See Also: <a href="https://www.benzinga.com/markets/asia/24/03/37941530/how-tencents-new-mobile-ventures-aim-to-mimic-palworlds-global-success">How Tencent&#8217;s New Mobile Ventures Aim To Mimic Palworld&#8217;s Global Success</a>



Although the game had an initial peak of 10,272 concurrent players on Steam, its player base quickly dwindled. By October, it struggled to maintain even 1,000 concurrent players, with current numbers barely reaching 23. Reviews on Steam have also plummeted from &#8216;mixed&#8217; to &#8216;mostly negative&#8217;.



In a statement, Tencent confirmed that Synced will be retired on September 9, 2024. Until then, the game will remain playable. &#8220;



We are grateful for all the love and support we received for Synced and we hope you will enjoy our other new and existing titles,&#8221; Tencent stated. 



They also addressed the retention of player data, mentioning, &#8220;The reason we may store your information after terminating Synced is to be able to meet our obligations to you and to other parties.&#8221;



Synced's closure is the latest in a series of live service game shutdowns, highlighting the fierce competition within the genre. 



Despite significant investments, even high-profile games like Rocksteady's Suicide Squad: Kill the Justice League have struggled to capture a sustained audience. 



Nonetheless, new entries continue to flood the market. Korean company Nexon Company ADR (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NEXOY#OTC">NEXOY</a>) recently launched The First Descendant, which amassed 10 million players in its first week, and NetEase Inc&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTES#NASDAQ">NTES</a>) survival game Once Human has also made a strong debut on Steam.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/markets/asia/24/05/39069011/tencents-new-hit-game-dnf-mobile-earns-140m-in-first-week">Tencent&#8217;s New Hit Game DnF Mobile Earns $140M In First Week</a></li>
</ul>



Image credits: Shutterstock.

Chinese Megacorp Tencent To Shut Down Synced, Ending Another Live Service Game's Run

In an unexpected move right before Christmas, China&#8217;s top gaming regulator introduced new draft rules aimed at controlling excessive spending and online gaming usage. This announcement led to an $80 billion market selloff spearheaded by $54 billion in Hong Kong-listed Tencent Holdings Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCEHY#OTC">TCEHY</a>).



What Happened: The new regulations, introduced on Thursday, caught the industry off-guard on the final trading day before the holiday season, <a href="https://www.bloomberg.com/news/articles/2023-12-22/china-to-curb-excessive-online-games-spending-in-new-tightening?srnd=premium-asia">Bloomberg</a> reported. The abrupt clampdown ignited fears of a reinvigorated crackdown on China&#8217;s gigantic internet sector, similar to the stringent tech-sector clampdown of 2021.



The newly introduced regulations comprise spending limits on in-game purchases, bans on rewards for frequent log-ins, and prohibition of any content that compromises national security. The broad and vague nature of these measures left investors and industry players struggling to anticipate potential implications.



See Also: <a href="https://www.benzinga.com/news/23/12/36337931/trumps-colorado-disqualification-new-poll-reveals-majority-approves-verdict-but-most-believe-scotus?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump&#8217;s Colorado Disqualification: New Poll Reveals Majority Approves Verdict, But Most Believe SCOTUS Wi</a>



With the introduction of these new regulations, Tencent experienced its largest intraday dip since 2008, slipping up to 16%. Other major firms, such as NetEase Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTES#NASDAQ">NTES</a>) and Bilibili Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BILI#NASDAQ">BILI</a>), also experienced record drops, contributing to an $80 billion decrease in market value.



Why It Matters: The Chinese government has been waging a campaign against the private sector since 2020, perceiving it to be gaining too much power and expanding in a reckless manner. This latest gaming restriction is viewed as an extension of that campaign. The government-initiated crackdown on <a href="https://www.benzinga.com/news/23/12/36357208/china-issues-rules-to-curb-gaming-spend-tencent-netease-plunge-reuters-news">gaming started around 2018</a> with the suspension of game approvals. The Chinese government attributes various social issues, such as youth myopia and declining birth rates, to online entertainment.



The new measures could force gaming companies to rethink their monetization strategies, potentially impacting their revenue and profits. The regulations could have far-reaching implications for the gaming industry, both domestically and internationally, as companies scramble to adapt to the changes.



Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/23/12/36337204/dogecoin-killer-shiba-inu-burn-rate-skyrockets-28-000-as-6m-shib-sent-to-dead-wallet?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;Dogecoin Killer&#8217; Shiba Inu Burn Rate Skyrockets 28,000% As 6M SHIB Sent To Dead Wallet</a>




 <div style="font-family: 'Lato', sans-serif">
 <hr style="border: 0;height: 5px;background: #225aa9">
 <div style="background-color: #f5f5f5;background-position: center;background-size: cover;justify-content: center"></div>
 
 Engineered by
 Benzinga Neuro, Edited by
 
 <a href="None" target="_blank" rel="noopener" style="color: #225aa9;text-decoration: none">
 Kaustubh Bagalkote</a>
 
 
 <hr style="border: 0;height: 1px;background: #225aa9">
 
 The GPT-4-based Benzinga Neuro content generation system exploits the
 extensive Benzinga Ecosystem, including native data, APIs, and more to
 create comprehensive and timely stories for you.
 <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noopener" style="color: #225aa9;text-decoration: none">Learn more.</a>
 
 <hr style="border: 0;height: 5px;background: #225aa9">
 </div>

<ul>
	<li>Saudi Arabia&#39;s&nbsp;Public Investment Fund&nbsp;now owns an 8.3% stake in Nintendo Co, Ltd&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/NTDOF#OTC">NTDOF</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NTDOY#OTC">NTDOY</a>), becoming its largest outside shareholder.</li>
	<li>The&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/05/27281445/saudi-arabias-public-investment-fund-scoops-5-stake-in-nintendo" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">ramp-up</a>&nbsp;of stake, up from 6%, has placed PIF ahead of Japan&#39;s Government Pension Investment Fund and behind only Nintendo&#39;s holding, Bloomberg&nbsp;<a class="editor-rtfLink" href="https://www.bloomberg.com/news/articles/2023-02-17/saudi-arabia-becomes-largest-outside-shareholder-of-nintendo?srnd=technology-vp&amp;sref=TBDibEcD" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">reports</a>.</li>
	<li>Under Crown Prince Mohammed bin Salman, Saudi Arabia pushed to break into the games and esports industry.</li>
	<li>Also Read:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/02/30828062/saudi-arabias-public-investment-fund-and-alibaba-backed-vc-close-to-raising-1b-to-support-asian-and" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Saudi Arabia&#39;s Public Investment Fund and Alibaba Backed VC Close To Raising $1B To Support Asian And Middle East Tech Startups</a></li>
	<li>Most notably, it set up Savvy Games Group under the PIF umbrella with a $38 billion budget led by industry veterans.&nbsp;</li>
	<li>Savvy this week revealed its first foray into China&#39;s games sector with a $260 million investment in a&nbsp;Tencent Holding Ltd&nbsp;(OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/tcehy#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">TCEHY</a>)-backed competitive gaming organizer.</li>
	<li>&quot;It&#39;s tough to bet against PIF due to its size in the market,&quot;&nbsp;UBS&nbsp;analyst Kenji Fukuyama said. &quot;The fund may underpin Nintendo shares if it continues to increase its stake.&quot;</li>
	<li>Nintendo marked PIF&#39;s third investment in a Japanese game company that hit the public disclosure threshold of 5%, along with&nbsp;Nexon Co Ltd&nbsp;(OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/nexoy#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">NEXOY</a>) and&nbsp;Street Fighter&nbsp;maker&nbsp;Capcom Co Ltd&nbsp;(OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/ccoey#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">CCOEY</a>) in 2022.</li>
	<li>&quot;The Nintendo purchase, as well as investments in game companies around the world, is part of Saudi Arabia&#39;s long-term project to become less reliant on oil, &quot;said Akira Takatoriya, a consultant.</li>
	<li>The wealth fund&#39;s investments reflect the Saudi state&#39;s goals for 2030. Some of the technologies the PIF has targeted include renewable energy, big data analysis, and entertainment content.</li>
	<li>Price Action:&nbsp;NTDOF shares closed higher by 0.89% at $40.70.</li>
</ul>

Saudi Arabia's PIF Ramps Up Stake In Nintendo, Deeping Its Foray Into Gaming Sector

<ul>
	<li>Saudi Arabia&#39;s Public Investment Fund (PIF) scooped a 5.01% stake in&nbsp;Nintendo Co, Ltd&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/NTDOY#OTC">NTDOY</a>),&nbsp;<a class="editor-rtfLink" href="https://www.reuters.com/technology/saudi-arabias-wealth-fund-takes-5-nintendo-stake-2022-05-18/" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Reuters reports</a>.</li>
	<li>PIF has also launched its own video game and e-sports company,&nbsp;Savvy Gaming.</li>
	<li>Also Read:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/earnings/22/05/27100587/nintendo-declares-a-10-1-stock-split-after-posting-a-4-sales-decline-in-fy22-weaker-guidance" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Nintendo Declares 10-1 Stock Split After Posting 4% Sales Decline In FY22, Weaker Guidance</a></li>
	<li>PIF invested in video game companies&nbsp;Nexon Co Ltd&nbsp;(OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/nexoy#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">NEXOY</a>),&nbsp;Capcom Co Ltd&nbsp;(OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/ccoey#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">CCOEY</a>), and&nbsp;Tecmo Koei Holdings Co Ltd&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/TKHCF#OTC">TKHCF</a>).</li>
	<li>PIF, chaired by Crown Prince Mohammed bin Salman, is an anchor investor in&nbsp;Softbank Group Corp&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/SFTBY#OTC">SFTBY</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SFTBF#OTC">SFTBF</a>) $100 billion Vision Fund.</li>
	<li>PIF also procured a stake in&nbsp;Activision Blizzard, Inc&nbsp;(NASDAQ:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/atvi#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">ATVI</a>).</li>
	<li>Price Action:&nbsp;NTDOY shares traded higher by 3.71% at $57.62 on the last check Wednesday.</li>
	<li>photo via Wikimedia Commons</li>
</ul>

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Comments

NEXON Co

News

Latest news for NEXON Co (OTC:NEXOY) Stock

Friday, July 12, 2024

Friday, December 22, 2023

Friday, February 17, 2023

Wednesday, May 18, 2022