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Singapore's gaming gear company Razer posts first profit

Hong Kong-listed firm not fazed by failure to nab digital banking license

Razer's gaming platform has 123 million total users worldwide. (Photo courtesy of Razer)

SINGAPORE -- After logging yearly losses since listing on the Hong Kong stock exchange in 2017, Singapore-U.S. gaming peripherals maker Razer finally turned the corner in 2020.

The company, co-founded by Singaporean entrepreneur Tan Min-Liang, on Wednesday reported a net profit of $5.6 million for the year ended December, reversing its $84.2 million loss in 2019, as it vowed to expand its offerings beyond gaming and into digital financial services.

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