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Corner Office Conversation: BGMI maker’s plans for new games, India investment
Economic Times
·
5m ago
Medial
India's gaming industry is booming with millions of players and substantial investments. Despite regulatory challenges, technological advancements, and shifting player preferences, the sector thrives. Krafton India CEO Sean Sohn discusses with Anirban Chowdhury the company's navigation through bans and regulations, its vision for the Indian market, and a $160 million investment in Indian startups. They explore the impact of AI, the rise of cloud gaming, and the future of gaming in India.
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BGMI Maker Krafton India Seeks Govt Support For Online Gaming
Inc42
·
1y ago
Medial
Krafton India CEO, Sean Hyunil Sohn, urged Indian government support for the gaming industry, citing labor cost subsidies in other countries. He emphasized India's gaming potential due to affordable internet and high mobile usage, with opportunities for growth. Sohn also discussed the GST Council's 28% tax on online game bets and the sizable market for games like BGMI. He noted Krafton's investment in Nodwin Gaming and the industry's substantial growth.
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BGMI hits record sales in 2024, fuels Krafton’s 35.7% YoY mobile revenue growth
YourStory
·
5m ago
Medial
Battlegrounds Mobile India (BGMI) achieved record sales in 2024, contributing to a 35.7% increase in Krafton Inc’s mobile revenue. BGMI now boasts over 200 million downloads, solidifying its role as India’s top battle royale game. Krafton’s overall 2024 earnings reached 2.71 trillion KRW, with a 54% rise in operating profit. CEO CH Kim outlined plans for future growth, including expanding the PUBG universe and new titles, aiming for significant revenue expansion.
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KRAFTON receives full approval for BGMI in India
Startup News FYI
·
1y ago
Medial
South Korean gaming company KRAFTON has received full approval from the Indian government to operate its popular battle royale game, Battlegrounds Mobile India (BGMI), within the country. This comes after a rigorous three-month audit process aimed at addressing regulatory concerns. BGMI, one of India's top-grossing games, has faced regulatory challenges, but this approval is a significant milestone for KRAFTON. India's gaming market is growing rapidly, with the potential to reach $8.6 billion by FY27, making it an attractive opportunity for global gaming companies.
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Need for regulatory discipline in gaming sector: Loco founder Anirudh Pandita
Economic Times
·
1y ago
Medial
Anirudh Pandita, the founder of game streaming platform Loco, highlighted the need for regulatory discipline in the gaming sector. He mentioned that the suspension of PUBG had a positive impact on the segment, with other games now looking at India's proper structure for game releases. Pandita also praised BGMI-parent Krafton for its regulatory compliance and believes it has paved the way for other games to follow suit. Loco plans to expand its presence in the Middle East and Latin America.
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After 3-Month Audit, KRAFTON Gets Full Approval To Operate BGMI In India
Inc42
·
1y ago
Medial
South Korean gaming company KRAFTON has received full approval from the Indian government to operate its game Battlegrounds Mobile India (BGMI) in the country. The approval comes after a three-month audit process, and BGMI will now undergo quarterly assessments to maintain approval. This development provides relief to KRAFTON, as BGMI faced regulatory issues in India. The approval comes ahead of the expiration of the three-month trial period granted by the Ministry of Electronics and Information Technology (MeitY) to KRAFTON for the India-only game in May.
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Entrust Family Office to expand into new cities and verticals
YourStory
·
4m ago
Medial
Entrust Family Office, a multi-family office based in Bengaluru, plans to expand operations in cities like Mumbai, Delhi, Pune, and Coimbatore amid rising high-net-worth individuals (HNIs) in India. The firm aims to explore new verticals such as alternate asset classes and international investments. Established in 2013, Entrust serves over 75 families, offering bespoke services like investment strategies and estate planning. Founders aim to elevate their position as India’s most trusted family office.
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KKR Appoints Nisha Awasthi as Head of Office, Expands Operations In India
OutlookIndia
·
1y ago
Medial
Global investment firm KKR is expanding its operations in India with the opening of a new office in Gurugram. This move will enable KKR to tap into India's talent pool and strengthen its operating model globally. The firm plans to hire approximately 150 new employees in Gurugram by early 2024. Nisha Awasthi has been appointed as the managing director to lead the new office. KKR aims to deliver consistent service and coverage to its clients worldwide through this expansion.
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YC-backed Cekura plans to open office in India following $2 million fundraise - The Economic Times
Economic Times
·
1m ago
Medial
AI startup Cekura, founded by IIT Bombay alumni and backed by Y-Combinator, plans to establish an office in Bangalore, India, following a $2.4 million fundraising. Specializing in testing and observability layers for voice and chat AI, Cekura has streamlined testing processes significantly, attracting over 75 customers within a year. The funds will be used to hire engineers and expand the customer base. Their technology offers notable efficiency improvements in AI conversation simulations.
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Google Play announces best apps and games of 2024 in India: All you need to know
Business Insider
·
8m ago
Medial
Google Play has announced its Best of 2024 awards for India, highlighting the country's growing influence in the tech industry. Five of the top seven apps were developed by Indian creators, showcasing India's innovative spirit and use of AI to meet user needs. Mobile gaming is also booming in India, with the country becoming the second-largest market for gaming downloads globally. The winning apps include Alle - Your AI Fashion Stylist, Headlyne: Daily News with AI, and Sony LIV: Sports & Entertainment. The top games include Squad Busters, Indus Battle Royale Mobile, and BGMI (Battlegrounds Mobile India).
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Ranveer Singh joins forces with BGMI as official brand ambassador
Livemint
·
1y ago
Medial
Krafton, the company behind Battlegrounds Mobile India (BGMI), has announced a partnership with Bollywood actor Ranveer Singh. The collaboration aims to celebrate the essence of BGMI players through the Play Pure campaign. Ranveer Singh's charismatic persona aligns with the gaming community's spirit and authenticity. The campaign encourages BGMI players to embrace their uniqueness within the gaming world. Krafton India's CEO, Sean Hyunil Sohn, expressed excitement about the collaboration, while Ranveer Singh noted his affinity for gaming as an extension of his creative expression.
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