Square Enix's revenue from mobile games plummeted 24%, as the market continues to be dominated by Tencent, HoYoverse, and NetEase. Lack of new hits, misunderstanding of the live service model, and strong competition were the main causes of the decline.

Square Enix's revenue from mobile games plummeted 24%, as the market continues to be dominated by Tencent, HoYoverse, and NetEase. Lack of new hits, misunderstanding of the live service model, and strong competition were the main causes of the decline.

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— Celo Zaga ( @celozaga.bsky.social) Feb 18, 2026 at 00:52

Square Enix's revenue from mobile games plummeted 24%, as the market continues to be dominated by Tencent, HoYoverse, and NetEase. Lack of new hits, misunderstanding of the live service model, and strong competition were the main causes of the decline.