Supercell’s first years are unique in business history. Some 1.5% of all people play its games every day, and in Finland people use more money on Supercell’s games than on music and books. According to Supercell, EUR 2.1 billion was used on its mobile games last year. This is very exceptional for a company that has not turned six years yet. Supercell is growing even faster than Google, Facebook and Twitter in their first years. Still, it does not mean that it is the new Google or Facebook. Competition in the gaming industry is tough and games do not necessarily last long. CEO Ilkka Paananen says, however, that their vision is to make games that people play for years or even decades.
Étiquette : Finnish Business
Analysis: Competition must increase
The worst seems to be over in Finland’s economy. Based on the European Commission’s report, the profitability of work and industry competitiveness have improved, but there is still much to improve in cost competitiveness. The Commission reminds that industrial companies the majority of their services from Finnish service providers. The report is a direct message to the Finnish government to increase competition. According to the Commission, companies should also contribute to improving competition by cutting their margins. In Finland, the Commission’s report pays attention to the centralisation of retail and construction business, among others. A lot has been done in the public sector but a lot still needs to be done. Furthermore, the Commission directly warns Finland about cuts made in education.
Negotiations between Areva and TVO progress
According to the French newspaper Les Echos, the negotiations between Areva and Teollisuuden Voima concerning Olkiluoto 3 are advancing in good spirit. The paper writes that it is unclear whether there will be any results before Areva publishes its financial statements on Thursday. TVO did not want to comment on the information. The French EDF is buying Areva’s reactor business but it does not want OL3. TVO is concerned what will happen to the Olkiluoto project if it is separated from the plan. According to Les Echos, Areva is seeking an overall solution to the situation with TVO. The OL3 project is ten years late and it has caused nearly EUR 5 billion losses to Areva.
Caruna’s fee hikes could launch Finland’s first class action
The electricity network company Caruna has announced major hikes to electricity transfer fees and Finland’s consumer authorities are now seriously contemplating a class action against Caruna if they cannot agree on a solution in negotiations with the company. Both consumers and politicians have been annoyed by the hikes, which can be up to 50%, and they have contacted consumer authorities. Caruna justifies the move by investments in the electricity network, and because of the monopoly position, customers cannot change the service provider.
Media: YLE Uutiset
Date: 8.2.2016
Journalist: Sanna Vilkman
Main source: –