[Click eStock] "Infraware, Untact + Game Expectations Due to COVID-19... Turnaround Outlook"
[Asia Economy Reporter Jang Hyowon] Leading Investment & Securities analyzed on the 14th that Infraware is expected to achieve breakeven point (BEP) this year and a turnaround next year due to the growth in demand for personal mobile offices caused by the novel coronavirus disease (COVID-19) and the release of new games.
Researcher Oh Seungtaek of Leading Investment & Securities stated in a report on the same day, “Infraware operates Polaris Office, mobile vaccine solution (V-Guard), enterprise collaboration solution (Atlassian), and mobile game business,” and analyzed, “As of the first half of this year, the sales proportion by division recorded 55.6% (5.1 billion KRW) for office software, 15.7% (1.4 billion KRW) for IT security and collaboration solutions, and 23.2% (2.1 billion KRW) for mobile games.”
Researcher Oh explained, “Since 2011, Infraware’s office software has been pre-installed on domestic smartphone manufacturers’ devices, leading to an operating profit of 13.5 billion KRW in 2013. However, due to the free availability of Microsoft mobile office and other factors, its scale has contracted and it has continued to incur losses.”
However, he predicted, “This year, due to the expansion of demand for personal mobile offices caused by COVID-19 and the release of new games by subsidiaries, breakeven will be achieved, and next year, a turnaround will be possible with game releases in the Japanese market.”
He added, “This means that subscription-based revenue through the cloud has increased alongside the existing delivery methods,” and said, “Sales of office software and collaboration solutions are expected to reach 15 billion KRW this year.”
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Additionally, anticipation is rising as the domestic release of ‘Idol Princess,’ developed by subsidiary I&V Games, is scheduled for the end of this month. Researcher Oh forecasted, “Since the number of pre-registrations has surpassed 700,000, favorable results are continuing,” and “As the goal is to release the game in Japan in the first half of next year, sales in the game sector are also expected to be positive.”
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