Tec Toy Mobile to invest over US$2mn in cellphone games market
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[June 29, 2006]

Tec Toy Mobile to invest over US$2mn in cellphone games market

(BNamericas.com Via Thomson Dialog NewsEdge) Joint venture Tec Toy Mobile intends to invest 5mn reais (US$2.26mn) in 2006 and 2007 to seek market share in Brazil's games for cellphones industry, Brazilian financial newspaper Valor Econmico reported.



Tec Toy Mobile, a joint venture between Brazilian video games manufacturer Tec Toy and Philippine company levelUp!, will invest in equipment and acquiring licenses for games from international and local studios.

With the investment in the local market, Tec Toy Mobile intends to become the market leader in the Brazilian market for games for cell phones in 2006 and 2007.



The Brazilian market for games for cell phones still only represents 0.6% (or US$18mn) of global revenues for those products of US$3.05bn, Tec Toy estimates. The global market is expected to climb to US$17.6bn by 2011.

If the Brazilian market grows at the same rate is growing today, it will be worth US$62mn in three years time, Reinaldo Normand manager of Tec Toy Mobile was reported as saying.

Tec Toy Mobile aims to reach revenues of 14mn reais over 2006 and 2007.

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