01/04/2012 : GIGAMEDIA RENEWED FOCUS ON SOCIAL GAMES
New direction in Mobile and Social Gaming
GigaMedia Limited's China online games platform Jidi Joy has announced the acquisition of an unidentified web-based social games development team based in Shanghai.
The firm expects to launch multiple proprietary social network games, the first of which is scheduled for roll-out in March 2012, on both its own platform and other social networking portals.
"We are making rapid progress in China, positioning ourselves to benefit from two powerful market forces in online games: the ongoing shift into Web and mobile platforms and the continued strong popularity and growth of social games," said John Huen, chief executive officer of Jidi Joy.
"Web-based and social games are projected by industry analysts to grow at up to triple-digit rates in China – faster than traditional client-based or PC games," Huen added.
GigaMedia posted weak Q3/2011 results and resolved to turn the company's disappointing performance around by a company restructuring programme. It sold off its 67.087 percent interest in casual gaming firm T2CN Holding Limited to Hornfull Limited in December 2011