Krafton is the sole developer and publisher of Battlegrounds Mobile India (BGMI).
BGMI was launched in India in 2021, following the ban on Tencent published PUBG
Photo Credit: Krafton India
South Korean video game publisher Krafton is actively exploring acquisitions in India, according to a report. The developer behind games such as PUBG: Battlegrounds and its Indian equivalent, Battlegrounds Mobile India (BGMI), reportedly aims to capitalise on the long-standing ban enforced by the Indian government on Chinese competitors in the country's gaming market. It is said to have plans of expanding its horizons in India, amid a growth slump in China and the US.
According to a Financial Times report, Krafton plans to invest upwards of $50 million (roughly Rs. 441.1 crore) annually in India. The country remains one of the largest markets for PUBG: Battlegrounds, where its Indian equivalent, Battlegrounds Mobile India (BGMI), has consistently ranked in the top charts in recent years, attracting nearly 200 million players.
The report adds that Krafton is hoping to capitalise on the ban on Chinese apps enforced by the Ministry of Electronics and Information Technology (MeitY). In recent years, it has faced a growth slump in markets such as China and the US, and consequently, it has shifted its ambitions of expansion towards India.
“It is not easy to come up with a big hit like Battlegrounds again. But it is our key challenge to develop another hit game,” Sean Sohn, Chief Executive Officer at Krafton India, told the publication.
The official reportedly stated that India is a challenging market for gaming companies, as players are reluctant to spend heavily on new games. While BGMI has a free-to-play model, certain cosmetic elements can be purchased with in-game currency or by spending real-world money.
“But they show strong loyalty once they get to enjoy a game,” Sohn added.
As per the report, Krafton has invested around $200 million (roughly Rs. 1765 crore) towards its digital content business in India so far. It accounts for about 9 percent of its global investments. And it could grow further if the South Korean publisher's investment plans come to fruition.
In 2020, the battle royale game was banned in its previous form, PUBG Mobile, due to its publisher being the Chinese tech giant Tencent. It was part of a larger crackdown on Chinese apps enforced by the Indian government under Section 69A of the IT Act.
However, the game was brought back less than a year later, in a new avatar known as Battlegrounds Mobile India (BGMI), developed and published solely by Krafton, which continues to be highly popular among gamers in India.
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