Naver Sales Surge Thanks to Line Messaging App

      February 07, 2014 12:11

      Korea's top portal Naver posted W641.1 billion in sales in the fourth quarter of last year with operating profit at W154.3 billion and net profit at W46.4 billion, it said Thursday (US$1=W1,079).

      Revenues surged 27.7 percent compared to the same quarter in 2012, but operating profit fell 2.1 percent due to increased marketing costs.

      The increase was driven by the firm's globally popular Line messenger app. Line generated revenues of W454.2 billion last year, up 690.4 percent compared to 2012. At present, 340 million people use Line, with 600,000 more people signing up on average each day.

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