Our previous article showed another yearly loss for Square Enix and while some don’t think it is a big deal, they are in for a rude awakening. Square Enix Reaching Rock Bottom, is predicted as some to have ” begun “, trending on twitter is a lot of hate that their main focus is switching to smartphone, tablet and devices rather than sticking to creating quality games that fans want to see. Square-Enix sent out a statement when their financial loss was posted, their response was both humorous and something us, Square Enix fans do not want to hear.
Square Enix Reaching Rock Bottom
[dropshadowbox align="left" effect="lifted-both" width="250px" height="" background_color="#ffffff" border_width="1" border_color="#dddddd" ]“The business environment surrounding the Group is in the midst of major changes, where devices such as smartphones and tablet PCs are spreading rapidly, while the console game markets in North America and Europe are increasingly competitive and oligopolistic. In light of such environmental changes, the Group is focusing all efforts on a substantial earnings improvement through driving reforms of business structure in order to establish new revenue base.”[/dropshadowbox] They stated that console gaming competition in North America & Europe are extremely competitive and “ oligopolistic “. Basically they are stating that they will cut down on production of video games and focus on generating revenue from other sources such as smartphones, tablets and other devices. I just don’t understand how you will generate greater revenue from those three while Square Enix lived off of their video game productions, it is what defined Square Enix. As a huge Square fan this upsets me a lot and I’m beginning to lose hope for a Final Fantasy 7 remake.
Now this would not upset me if the games were doing poorly sales wise, but this is far from the case. The company pins the loss on the “extraordinary” cost of restructuring as well as the “underperformance” of Hitman: Absolution and Tomb Raider which , by the way sold over three million copies EACH! I can’t see how selling three million copies is considered an loss.
Here are some fan reactions…
Sad to see 3 million copies considered “under performing”. –> Square Enix Lost ¥13.7 Billion In The Last Fiscal Year gamefocus.ca/news/20074.htm…
— David Collins (@KingQuagmire) May 14, 2013
— Jazmine (@ohheyitsjaz) May 14, 2013
Square Enix IS THE WORST COMPANY! Hate on EA, but at least they do SOMETHING with their IP. Geez. And then they blame us.
— Jon Gregory (@JMan240) May 14, 2013
I wouldn’t be surprised if Square Enix has a Vault where they store all the games we want but won’t release them till we sign over our souls
— Gwynt (@YinTheKitchen) May 14, 2013