W&I Achieves Performance Growth Through Merger with WithMobile... Records 24 Billion KRW in Sales

[Asia Economy Reporter Jang Hyowon] WI, a character and brand license specialist company, announced on the 20th through its audit report disclosure that it recorded sales of 24 billion KRW last year. During the same period, operating profit and net income reached 800 million KRW and 1.4 billion KRW respectively, achieving a turnaround to profitability compared to the previous year.

A company official stated, “After merging with WithMobile, a character and brand IP license specialist company, last year, sales of ‘Kakao Friends’ IP products performed well, leading to improved results,” and added, “The turnaround to operating profit has also alleviated concerns over designation as a management item due to four consecutive years of operating losses.”

He continued, “We disposed of invested subsidiaries, and net income also increased due to valuation gains on convertible bond derivatives.”

WI is an IP license specialist company that plans, manufactures, and sells various mobile accessories and small home appliances through license agreements for the use of famous domestic and international characters and brands. Its representative products include those utilizing the ‘Kakao Friends’, ‘Pengsoo’, and ‘Mercedes-Benz’ IPs.

Recently, mobile accessory products using the ‘Pengsoo’ IP have been selling out continuously, showing strong sales momentum, and the company plans to release new products in the future by obtaining IP usage rights from global artists.

This content was produced with the assistance of AI translation services.