Environmental unit manufacturer Razer reported a record year in its latest earnings results. For the first time ever, the manufacturer has crossed the $1 billion revenue limit. Razer, which currently produces a large number of PC and console gaming hardware, said it recorded total revenue of $1.2 billion for the twelve months ended December 31, 2020.
The company reported a 48 percent increase in new revenue compared to the previous year. The vast majority of Razer’s profit came from its hardware division, which rose 51.8 percent year-on-year to $1.08 billion. With these figures, the manufacturer claims to maintain its position as a market leader in the US, Europe, China and Asia-Pacific, while at the same time taking “significant market share from competition”.
2020 was a record year for Razer
Razer reported a profit of $800,000 for the full year, which he said exceeded all expectations. As for the software, the company did not share a specific revenue figure for this area. However, the services segment, which includes Razer Fintech, reportedly saw revenue growth of 66.8 percent to $128.4 million.
Razer, who also faced a supply restriction issue for some time, said “suppressing demand from consumers” helped him reach new milestones and generated $152.9 million in operating activities.
At the same time, Razer currently has $600 million in his bank account and does not owe any money. Finally, it is foreseen that the manufacturer, which has made a solid start to 2021 with its next generation products, will continue this success.