Razer is a company that most people recognize because of their gaming hardware. In fact, currently gaming hardware accounts for 86 percent of the company’s revenue. The $2 billion United States company now wants to transform their platform into becoming a financial services giant.
The company is currently in the middle of a transformation, going from gaming to payments and onto banking. This transition comes as Razer is exploring areas of new growth after it saw its profit margin sing from 34 percent in the year 2014 down to just 20 percent in the year 2019.
The new ambitions from the company will put it up against some bigger name competitors such as Grab, Sea, and Ant Financial. This means that is not going to be an easy battle to enter the financial services market for the company. However, with the name of Razer, anything is really possible and with the right moves at the right times, the company should be able to move into the financial services area and be fairly competitive within a fairly short amount of time.
However, only time will really tell if this type of move is going to pay off for a company that has mainly focused on creating gaming hardware.
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