Pokemon Go Implications
The Hyundai Research Institute said that the Pokemon Go is estimated to have recorded a profit of US$14.04 million in its first week in the market.
In its report, the research institute pointed out that a success story like the Pokemon Go is not distant. “Augmented reality has been developed to some extent and products and services utilizing augmented reality are already on the market,” it explained, adding, “The Pokemon Go is similar in a way to Apple’s iPhone in that it provides a whole new user experience by adding creative ideas to existing technologies.”
At present, South Korea’s virtual and augmented reality technologies are at an 83.3% level compared to those of global leaders. Nevertheless, only 12.4% of its virtual and augmented reality technologies have produced profits by being utilized in the form of products, services and process improvements, which means South Korea still has a far way to go when it comes to the commercial utilization of these technologies.
The institute stressed the importance of platform business as well. In the case of the Pokemon Go, 30% of the app sales goes to Google and Apple. Thanks to the game, Nintendo’s stock price soared to 25,300 yen per share on July 14 after having moved between 14,000 yen and 16,000 yen per share throughout this year.
The report mentioned O2O services as one of the most important parts of the future mobile business. “With time, O2O business models are likely to cover every field related to people’s daily living, and as such, proactive measures are required for the preparation of stable business foundations,” it went on to say.