The Xbox 720 is right around the corner, but it looks like Square Enix is having a hard time seeing the return they thought would come with developing games for consoles.
According to a report from GamesIndustry on Tuesday, Square Enix released its quarterly report and did not have good news to report in the way of its console figures.
"During the nine-month period ended December 31, 2012, the Company has not recovered the operating loss posted in the six-month period ended September 30, 2012.
"[This is] primarily due to the increasingly difficult condition of the world-wide console game market, under which the Group is struggling to achieve a fair expected return on its investment.
"On the other hand, content for other platforms such as PCs, smartphones and SNS such as 'Sengoku Ixa,' a browser game, and 'Final Fantasy Brigade,' a social networking game for Mobage, are generating an acceptable profit.
"In addition, newly released game titles, such as 'Kaku-San-Sei Million Arthur,' a social networking game released in April, 2012 serving more than 1 million registered users, have been expanding at a satisfactory pace.
"Registered users of Final Fantasy Artniks,' a social networking game released in November, 2012 for Gree, exceeded 1 million at the end of December, 2012," Square said.
Hopefully Square can pull through some better numbers this next quarter because they released what some thought to be two of the best games all of last year in "Sleeping Dogs" and "Hitman: Absolution."
Xbox 720 will be featuring some great titles and experiences, but it wouldn't be the same if Square has to pack up in the console space and not return.
What do you think Square needs to do in order to recoup loses from this quarter?
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