Rovio said competition in games streaming had intensified globally while the roll-out of 5G networks and devices had been slower than anticipated. — Reuters
HELSINKI: Quarterly profit at Angry Birds maker Rovio Entertainment plunged 96% as the mobile games company was hit by the slower-than-expected take up of its 5G gaming platform Hatch and higher marketing costs.
Shares in the Finnish company slumped 22% in early Feb 12 trading after it said it was evaluating "strategic alternatives" for Hatch, while also looking to make annual cost savings of €6mil (RM27mil) for the 80%-owned unit.
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