Amico Games Corp. Anticipates Substantial Growth in 2010 and 2011
GUANGZHOU, CHINA--(Marketwire - January 12, 2010) - Amico Games Corp. (OTCBB: AMCG), an information technology company specializing in developing and operating mobile phone multiplayer networked games, anticipates significant growth in the Chinese mobile games industry. The market value of China's burgeoning mobile phone game market is forecasted to be RMB 2.68 billion (or USD 394 million) in 2010 and may reach RMB 4.21 billion (or USD 619 million) in 2011 according to statistics released in 2009 by Analysys International.
"We increased our revenues almost 40% between our fiscal years of 2008 and 2009. We are very optimistic that we will continue this trend given the projected performance of mobile phone games in our market," Mr. Peter Liu, Amico's President and CEO commented. "The statistics released by Analysys International indicate the huge market opportunity that mobile phone gaming holds for the future. Additionally with consideration of our ongoing R&D plans and the outstanding performance of our JAVA game of Journey to the West Online, I believe that we will enjoy substantial growth in the near future."
In 2008, the Chinese mobile phone game market value reached RMB 1.365 billion (or USD 200 million), an increase of 62.67% from 2007. Analysys International estimates that the compound growth rate will be 45.54% from 2008 to 2011. This booming market growth is due primarily to the rapid growth in mobile phone ownership, reaching over 660 million users in 2009, the expansion of 3G network availability and the improvements made by mobile phone game developers in creation of, operation and marketing capabilities of their product. According to Analysys International, JAVA games occupied 72% market share in 2008.
