King, the game developer behind the wildly popular Candy Crush Saga, has withdrawn its controversial trademark application in the U.S. for the word "candy". It continues to seek a trademark for the word "saga". The developer also will not give up the trademark it was awarded for the word "candy" in the EU. In a statement, King says that it will "continue to take all appropriate steps" to defend its intellectual property.
Despite the bad rap that King received from trying to turn a widely used word into an asset, the company is on track to go public. As we already told you last week, the developer is seeking to raise $500 million via an IPO. The company will have its shares traded on the NYSE under the symbol KING. To show you how profitable a hit mobile game can be, Candy Crush Saga was responsible for revenue of $1.88 billion in 2013, which generated profits of $568 million. The one game made up 78% of King's revenue last year.
The company hopes that it scored a public relations coup on Tuesday by withdrawing its request to trademark the word "candy" in the states. The application to withdraw the original filing can be seen below.
Game developer King withdraws filing in the U.S. to trademark the word candy
Alan, an ardent smartphone enthusiast and a veteran writer at PhoneArena since 2009, has witnessed and chronicled the transformative years of mobile technology. Owning iconic phones from the original iPhone to the iPhone 15 Pro Max, he has seen smartphones evolve into a global phenomenon. Beyond smartphones, Alan has covered the emergence of tablets, smartwatches, and smart speakers.
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