Niantic Inc studio that developed the popular Pokemon G0, Ingress and Harry Potter : Wizards Unite announced the closure of their studio in Los Angeles. This also caused 230 individuals to lose their jobs.
Development of the Marvel: World of Heroes premiere has been temporarily halted while the NBA All-World premiere will be finished in the near future. The studio will focus on first-time development using its own IP and will no longer rely on third-party intellectual property. Niantic will also focus on the first AR and MR devices that are expected to be popular in the near future.
This drastic step was taken because the studio found that costs were now rising faster than the profits being generated. There was a time when Pokemon Go was the highest grossing game in the world. The issue experienced by Niantic is similar to the fate of Rovio who also fired employees after the popularity of Angry Birds decreased.
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BUSINESS & MONEY