Krafton shares plummet 6% on battle-royale game BGMI ban in India

2022.07.29 14:04:01

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Shares of South Korean game publisher Krafton Inc. sank 6 percent Friday upon news that its popular battle-royale format game was removed from Google and Apple app stores in India, another setback after its flagship title was kicked out from the country in 2020.

Shares of Krafton plunged 5.7 percent to 230,500 won ($176) Friday afternoon after going as low as 221,500 won.

According to foreign media reports, Battlegrounds Mobile India (BGMI), the Indian version of Krafton’s Battlegrounds Mobile, has been removed from the country’s Apple and Google app stores. The removal came on an “order from the Indian government.” The game developer was informed about the ban, reports said, although the “reason for the block was not immediately clear” and Krafton is “seeking clarification.”

The block comes after a ban of Krafton’s “PlayerUnknown’s Battlegrounds (PUBG)” in India in 2020 amid intensifying border conflict with China. India suspended services of 118 apps related to China, and Krafton’s title was one of them as its global publisher was China’s Tencent. Krafton cut ties with the Chinese partner and took publishing responsibilities as well as pledging $100 million investment plan for India’s game ecosystem development to return to the world’s second most populated country.

The Korean game publisher released a BGMI, the PUBG customized for Indian gamers in July last year, which attracted 100 million users in just one year.

By Pulse

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