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China's online game firms record $70m in overseas sales

By Yu Hongyan (chinadaily.com.cn)
Updated: 2009-01-15 17:25

China's online game industry saw their overseas sales rise 28.6 percent to $70.74 million in 2008, on the sales of 33 games developed by the countries' 15 companies, an industry survey reported on Wednesday.

The country's industry giants, like Shanda Interactive, Perfect World, Kingsoft and Netdragon have gained ground in Japan, Vietnam, Russia, Brazil and the US as well.

NASDAQ-listed Perfect World plans to localize its product in Europe and North America in 2009, and its rival Shanda is poised to step into foreign markets through exports of its capital, technologies and products, said Shanda spokesman Zhuge Hui.

Many analysts think that people are most likely to stay at home in a time of recession, providing online gaming products a good opportunity for growth.

Despite the sluggish economy, Perfect World saw its overseas sales in the third quarter soaring to $8.44 million, contributing 20 percent of its total revenue that quarter.

The company's sales overseas in the first nine months came to $19.06 million, and it expects to collect $10 million in the fourth quarter.

Shanghai-based research house iResearch said China's online game industry may see its overseas business grow more than 100 percent in the future, topping its domestic sector, which grows by 30 percent at present.