Krafton Set to Become Industry Leader in Emerging Market Like India and the Middle East: In a Press Conference held yesterday 25th of July, Krafton aims to boost its investment in India and the Middle East. Krafton wants to follow in the footsteps of Blizzard- which dominated the Korean Market in a short span of time.
Bae Dong-Keun, KRAFTON’s chief financial officer, said in an online news conference that the company, which is set to go public next month and is expected to raise $3.73 billion, will use 70% of the funds to consolidate its foothold in the worldwide video game market- Especially India and Middle East.
Krafton Chairman Chang Byung-Gyu further emphasized that the company is more than just a game publisher; it is also a company with strong IP competitiveness in the gaming industry. Many people still don’t know Krafton as a film or animation firm, but Chang is confident that the future media sector will be built on content convergence with gaming.
Krafton Investment in India so far
Last year, Krafton announced that it would invest $100 million in the country’s video game, esports, entertainment, and information technology industries. Pratilipi, Loco, and Nodwin are among the companies in which the company has invested so far. KRAFTON re-entered the Indian market nine months after PUBG was banned, with Battleground Mobile India, which many regards to be a refurbished version of PUBG. Krafton recently announced Battlegrounds India Series with over a 1 crore prize pool ( 135 K USD Prizepool) and aims to invest largely in upcoming esports tournaments.
Future of Gaming in India
Over the last few years, India’s mobile gaming sector has exploded. The ongoing pandemic has merely added to the sector’s already strong growth. The mobile gaming business in India was valued at $1.2 billion in 2020, ranking sixth after China, the United States, Japan, South Korea, and the United Kingdom. According to the survey, India has 326 million mobile gaming users, with the market predicted to reach $1.6 billion by 2025.