THQ restructures for iPhone, iPad, digital distribution platforms
Reports profits and announces job cuts
After announcing a slight rise in profits for the third quarter, it seems the hard times for THQ might finally be waning. Last year the company reported a total loss of $192 million, so even a small rise in revenue is undoubtedly welcome news.
That said, 60 jobs have still been cut as the company realigns its studios to cater more for the digital distribution platforms such as iPhone, iPad, and Xbox Live Arcade.
"Consumers are increasingly looking for deeper engagement with their favourite entertainment experiences. They also want to enjoy games and entertainment via convenient social and portable platforms that suit their lifestyle," says executive vice president Danny Bilson.
"We plan to address these needs through a rich offering of content distributed across digital platforms, based both on all of our major core brands as well as new intellectual properties."
Its Juice Games and Rainbow Studios have been renamed to fit the new company focus and structure, now simply referred to as THQ Digital Studios Warrington and THQ Digital Studios Phoenix respectively, with both expected to work on existing and new brands for the digital platforms.
