Razer expects profits to continue to grow as consumers take to gaming amid pandemic, CEO Tan Min-Liang says

Name: Razer CEO Tan Min Liang on gear for gamers
Uploaded: 2021-03-29T00:30:08.000Z
Duration: 2 min 36 s
Description: Razer CEO Tan Min Liang on gear for gamers

Hong Kong-listed Razer posted a maiden net profit of US$800,000 on record revenues of US$1.2 billion for 2020

The company, known for its gaming PCs and peripherals, says it expects to see consistent growth moving forward

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Tan Min-Liang, co-founder and chief executive of Razer, said the company’s impressive growth last year would continue to be sustained. Photo: Thomas Leung

Josh Ye

Published: 8:30am, 29 Mar 2021Updated: 8:30am, 29 Mar 2021

It took gaming hardware and digital services company Razer three years since its Hong Kong listing before it turned a maiden profit last year, thanks to a worldwide gaming boom as lockdowns kept consumers at home. For Tan Min-Liang, co-founder and chief executive of Razer, it was a welcome relief.

Razer, dual-headquartered in Irvine, California, and Singapore, last Wednesday posted a net profit of US$800,000 on record revenues of US$1.2 billion for 2020. The profit comes on the back of a loss of US$83.5 million in the previous year, while the revenues were fuelled by increasing demand, as well as market share gains for its hardware business and robust growth of its services business.

Tan told the Post that Razer’s growth last year exceeded all expectations as esports became an important outlet for many trying to scratch their competitive itch. Likened to the Nike of esports, Razer raked in massive revenues from various online shopping festivals throughout the year. It sold over 200,000 of its premier esports mouse DeathAdder on Singles’ Day, the biggest online shopping extravaganza in China.

“We saw outsized growth for ourselves,” Tan said. “It was pretty unprecedented. And I think we still see consistent growth moving forward from here, but definitely it was ahead of our own expectations.”

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Razer CEO Tan Min Liang on gear for gamers

Founded in 2005, Razer went public in Hong Kong in November 2017. Backed by Singapore state investor Temasek, Razer had been posting losses every year despite continued revenue growth from 2017 to 2019.

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