The Electronic Entertainment Expo (E3) in Los Angeles is all about consoles but there's major news for a product on a much smaller scale.
The Electronic Entertainment Expo (E3) in L.A. is all about consoles, but there's major news for a product on a much smaller scale. China's biggest online entertainment company Tencent Holdings Ltd is nearing a $6.6 billion (USD) deal to buy a majority stake in Finland's Supercell Oy. The sale would be the biggest gaming acquisition yet. So while mobile games are simpler in technology and graphics, as developer Eric Brummel points out, their place in the industry is solid. (SOUNDBITE) (English) SENIOR PRODUCER AT LOOT INTERACTIVE, ERIC BRUMMEL, SAYING: "I think it's just that everyone has a phone at the ready. They have it in their pocket and so it's just a real convenient way to game and people love to game and it's right there and it's super easy to pull out your phone and kill some time." According to private equity investment firm Digi-Capital, the mobile games industry was worth $29 billion in 2015 and is expected to grow to $45 billion by 2018. Mobile game developer Locojoy Ltd is focused on those numbers. They're showcasing 'Dragon Raja' at E3, which so far, grossed $2 million in the first month of release in South Korea. CEO Tong Xu. (SOUNDBITE) (English) CEO OF LOCOJOY, TONG XU, SAYING: "The capacity of the mobile is just becoming bigger and bigger and a lot of things can be streamed so that's why that although the device is small the experience doesn't have to be small so that's why our team in Korea are bringing PC games to your mobile so that you can enjoy it everywhere you go." Many mobile games are free to download but make their revenue by selling extra functions or options within the games.