Peripheral manufacturer Razer reported a record year in its latest earnings results. The manufacturer exceeded the $ 1 billion sales limit for the first time. Razer, which currently manufactures a large number of PC and console gaming hardware, has announced that it has made a total of $ 1.2 billion in revenues for the twelve months ending December 31, 2020.
The company realized an increase of 48 percent over the previous year with the new reported revenue percentage. Most of Razer’s profit came from the hardware division, which grew 51.8 percent year over year to $ 1.08 billion. With these figures, the manufacturer claims to maintain its market leadership position in the US, Europe, China and Asia-Pacific, while also “gaining significant market share from the competition”.
2020 has been a record year for Razer
Razer posted a profit of $ 800,000 for the full year and said it was above expectations. As for the software, the company did not share a specific sales figure in this area. However, the services segment, which includes Razer Fintech, reportedly reached $ 128.4 million, with sales up 66.8 percent.
Razer, who also dealt with the problem of supply constraints for a while, said that “suppressing consumer demand” helped hit new milestones and created $ 152.9 million in business activity.
At the same time, Razer currently has $ 600 million in his bank account and has no debt. Finally, the manufacturer, which made a solid start in 2021 with its new generation of products, is predicted to continue this success.