April 25, 2024

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[THE INVESTOR] Expectations are growing that NCSoft’s “Lineage 2M” will surpass “Lineage M,” said Shinhan Investment on Dec. 17 maintaining a “buy” recommendation and raising the target price to 550,000 won (US$485.57) from 500,000 won.

It has rolled out “Blade and Soul: Revolution” only to confirm that the market for mobile MMORPGs is saturated. While revenue from the new game is likely to be below expectations, anticipation for “Lineage 2M” is heightened. The game will take a “one-world” approach rather than conventional channeling, allowing users more competitions and battles, and could be a blockbuster that can surpass the success of “Lineage M,” said analyst Lee Mun-jong.

The game developer’s revenue in the fourth quarter will increase 2.5 percent from the previous quarter to 414.1 billion won and operating profit by 2.4 percent to 135.7 billion won, he said adding that revenue from mobile games, boosted by “Lineage M,” will remain strong. 

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