April 26, 2024

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[THE INVESTOR] Wemade Entertainment is drawing expectations for its new release, said Samsung Securities on Jan. 19, raising the target price to 61,000 won (US$57.25) from 47,000 won.

Its mobile spin-off of “Legend of Mir 2,” developed by a Chinese partner Time Technology, will be released in China this month, while its own mobile game “Icarus M” will be published by Netmarble Games and will boost revenue in the second quarter, forecast analyst Oh Dong-hwan.

As it continues to release mobile game hits based on online blockbusters games’ IP, the possibility of IP license business is reevaluated as well, noted the analyst. 

By Hwang You-mee (glamazon@heraldcorp.com)