DnF Mobile generates nearly $2.5 billion in China, strengthening its position among top-grossing iOS games

Following its release in China, Dungeon & Fighter Mobile has quickly become one of the highest-grossing mobile games globally. Here’s some new data from market research firm Niko Partners.

The Chinese version of DnF Mobile (地下城与勇士：起源) has generated nearly $2.5 billion in gross revenue since its launch in May 2024 through the end of the year, according to the Niko News newsletter.
It is unclear how spending is split between platforms, but Niko Partners typically takes into account not only iOS data, but also revenue from third-party Android stores. It is worth keeping in mind because Google Play is banned in China, and most analytics platforms only track revenue from the App Store in the country.
According to Niko Partners, DnF Mobile was the 2nd highest-grossing game of 2024 on the Chinese App Store — behind only Tencent’s evergreen hit Honor of Kings.
Last year, the firm estimated DnF Mobile’s first-month revenue at over $500 million (across iOS and third-party Android stores), expecting it gross over $2 billion by the end of 2024. New data shows that the game has performed above projections.
When only looking at iOS revenue, Dungeon & Fighter Mobile generated $270 million in its first month. According to Sensor Tower, this is the best launch ever for a mobile game developed or published by Tencent. For comparison, Honor of Kings reached $130 million in player spending in its debut month, followed by Peacekeeper Elite (Chinese version of PUBG Mobile) with $69 million.

Image: Niko News

DnF Mobile, originally launched in South Korea in April 2022, is a beat’em up game based on Nexon’s Dungeon & Figther IP. It is still only available in two countries, with no exact plans for a global release.

AppMagic data shows that the Korean version of DnF Mobile (던전앤파이터 모바일) has generated over $138 million in lifetime net revenue from in-app purchases (reduced by platform fees and inclusive taxes).

The terms of the partnership between Nexon and Tencent remain undisclosed, but both companies are betting big on DnF Mobile. Last year, the Chinese tech giant mentioned the game’s potential to become its “next evergreen hit” like PUBG Mobile and Honor of Kings.

DnF Mobile’s launch in China also exceeded Nexon’s expectations, with the company now planning to expand the franchise outside of Asia. Its pipeline currently includes several games based on the Dungeon & Figther IP, such as The First Berserker: Khazan and Project Overkill. This is part of Nexon’s growth strategy aimed at “snowballing” the growth of its franchises by making games in various genres and reaching new markets.