FILE PHOTO: Embracer Group founder and CEO Lars Wingefors looks on at his office in Karlstad, Sweden March 8, 2021. Picture taken March 8, 2021. REUTERS/Naina Helen Jama/File Photo
"Games development have been taking longer time for most companies in the industry to complete to the quality needed," CEO Lars Wingefors told Reuters, adding that particularly small and mid-sized titles were struggling with delays and underperformance. Embracer, like other gaming groups, benefited from growing demand for video games during COVID-19 lockdowns, but has since been hit by development delays, falling demand and poor reception for some of its new titles.
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