Majesco Leaves Premium Market
Bad Ports Also Canned
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Majesco Entertainment has announced that it will be leaving the premiere console market and instead focus on handheld and budget titles. The decision comes as a direct result to Majesco's disappointing full-year results, another large decline in revenues, most notably the $34.2 million loss of Q4 2005 as compared to a net income of $16.2 million for Q4 2004.
The decision sees the firm exiting the high development and high marketing costs that are associated with the premiere titles. Majesco showed the industry that it was worried about the costs when it sold off the rights to the "Taxi Driver" title and and Demonik, late last year. More bad news follows as Majesco said that along with the development shift, a 20% reduction in staff will follow.
Jesse Sutton, President of Majesco Entertainment commented: "This has been a difficult year for Majesco. We entered the premium console market with high expectation for success, but as a result of a variety of factors we were not able to meet our expectations. Recently, we evaluated our product portfolio and have sold or cancelled most of our premium console titles that were scheduled for release in 2006 and beyond."
"Publishing value priced software and games for handheld systems has historically been one of our strengths. We believe that this strategy is more prudent for Majesco at this time and offers us the most opportunity for success as it requires a relatively low investment in development and marketing," Sutton stated.
One is to assume that with no premium console titles coming, no PC ports will follow.
Source: GamesIndustry Article
The decision sees the firm exiting the high development and high marketing costs that are associated with the premiere titles. Majesco showed the industry that it was worried about the costs when it sold off the rights to the "Taxi Driver" title and and Demonik, late last year. More bad news follows as Majesco said that along with the development shift, a 20% reduction in staff will follow.
Jesse Sutton, President of Majesco Entertainment commented: "This has been a difficult year for Majesco. We entered the premium console market with high expectation for success, but as a result of a variety of factors we were not able to meet our expectations. Recently, we evaluated our product portfolio and have sold or cancelled most of our premium console titles that were scheduled for release in 2006 and beyond."
"Publishing value priced software and games for handheld systems has historically been one of our strengths. We believe that this strategy is more prudent for Majesco at this time and offers us the most opportunity for success as it requires a relatively low investment in development and marketing," Sutton stated.
One is to assume that with no premium console titles coming, no PC ports will follow.
Source: GamesIndustry Article