Razer gaming hardware company achieves high profits in the first half of 2021

Razer gaming hardware company achieves high profits in the first half of 2021

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“Razer had an impressive first half of the year. In addition to the success of its core business segments thanks to continued industry-wide growth, Razer’s stellar financial results are fueled by a strong brand position and user community. loyalty, coupled with the ability to produce innovative and disruptive products and services in the market, as well as an efficient execution team,” – Min-Liang Tan, Co-Founder and Razer CEO said.

Razer gaming hardware company achieved high profits in the first half of 2021 - Photo 1

Min-Liang added: “In the future, the strong growth progress, solid foundation as well as potential opportunities of the market are the factors that make us confident that it is the right time. the right point to scale Razer’s business. We plan to reinvest part of our full-year profits in high-growth potential areas like Razer Gold and Razer Fintech, and aggressively invest in new growth opportunities within the Razer ecosystem. We believe these strategic investments will help build a strong foundation that will propel Razer to its long-term growth ambitions and deliver outstanding shareholder value.”

Specifically, Razer achieved a record high revenue, reaching 752 million USD and had a growth of 68% over the same period last year. This was achieved due to the increased demand for work and play from home. Its gross profit margin touched 27.1% compared to 22% in 2020, through the improvement in the profit margin of the hardware segment. The net profit figure totaled $31.3 million, nearly double from last year’s $17.7 million.
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In 2020, Razer is committed to the environment with a 10-year roadmap as part of the #GoGreenWithRazer initiative, which revolves around four core initiatives – building green organizations, designing green products, initiating green communities and make green investments. The airline has announced short-term, medium-term and long-term plans to gradually realize the goal of building a green future:

– By the end of 2021: Building a Green organization: Say no to single-use plastic products; Green product design: Use environmentally friendly Green packaging.

– By the end of 2025: Building a Green organization: 100% using renewable energy; Green Product Design: 100% recyclable with Razer;

– By the end of 2030: Building a Green organization: reaching the target of 100% carbon neutrality; Green Product Design: Made with 100% recyclable and recyclable materials; As part of Razer’s efforts to encourage the community to contribute and support the global green movement, Razer partnered with Conservation International in October 2020 and introduced the Sneki Snek campaign, representing by the sustainability mascot loved by Razer fans. As of August 25, 2021, the Group has protected more than 500,000 trees.
Razer gaming hardware company achieved high profits in the first half of 2021 - Photo 3

Razer is keeping a close eye on the market as the COVID-19 pandemic continues, while maintaining the momentum and strength of its staff and aiming to deliver strong revenue growth, improve the operation apparatus, and at the same time increase investment for development in 2021.

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