NEW YORK, NY -- (Marketwire) -- 11/30/12 -- The rising popularity of smartphones and tablets has caused the mobile gaming market to grow at a rapid pace. A recent report from research firm Strategy Analytics has shown that the number of smartphones in use globally topped the 1 billion mark for the first time ever in the third quarter; by 2015 that number is expected to double. Five Star Equities examines the outlook for companies in the Gaming Industry and provides equity research on Glu Mobile Inc. (NASDAQ: GLUU) and Zynga Inc. (NASDAQ: ZNGA).
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The gaming market is no longer dominated by PC's and consoles. Sales of video-game software, hardware and accessories have declined for 11 consecutive quarters, while sales of mobile games continue to experience growth. According to the Market Intelligence and Consulting Institute (MIC), the mobile gaming market is expected to reach $12.3 billion in sales this year, and increase to $15.2 billion by 2015. Those numbers equate to a combined annual growth rate of 12.3 percent from 2011 to 2015.
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Glu Mobile is a leading global developer and publisher of "freemium" games for smartphone and tablet devices. Shares of the company fell sharply earlier this month as the company warned fourth-quarter results would be impacted by poor performances of games launched in the third quarter. Revenues in the fourth quarter are expected to be between $19.5 million and $20.5 million.
Under terms of a new contract Zynga will no longer require users to login through Facebook to access their games. "Zynga's mission is to connect the world through games," Barry Cottle, Zynga's chief revenue officer, said in a statement. "In order to do this, Zynga is focused on building enduring relationships with consumers across all platforms from Facebook and Zynga.com on the Web to tablets and mobile."
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