THQ to delay releases after profits fall

This week games developer THQ was forced to announce the delay of three of its most anticipated titles due for release next year. Company of Heroes 2 and Metro: Last Light are now both expected for release in summer 2013 rather than early spring whilst South Park: The Stick of Truth is likely to be held back until early 2014.

The gaming giant’s fiscal problems had become increasingly apparent in recent months after the sales figures for recent titles failed to live up to the company’s expectations. Whilst the Saints Row Franchise provided some respite THQ now believes they are unable to produce games of sufficient quality within the time frame they initially set for the three titles.

THQ’s second quarter $21 million loss primarily comes as a result of the developer’s slow reaction to the shift of power in the gaming industry from consoles to mobile devices. The profits made by other developers have been largely missed out on by THQ after their exploration of the Tablet market with the development of uDraw failed to take-off and delivered a $100 million loss. A long run of less than convincing profit margins has also played its part with titles such as Darksiders 2 failing to make the grade in an inflated RPG market.

THQ bosses will be hoping for a much-needed payday following the release of WWE 13 on November the 2^nd. The game has a loyal annual following much like Fifa and other similar titles and will be expected to help deliver the money THQ badly needs if their dreams of a South Park title and a Company of Heroes sequel are to become reality any time soon.