Rovio News

The third installment in the franchise will follow the continuing adventures of Red and Chuck, voiced once again by Jason Sudeikis and Josh Gad. 

Finnish mobile game and animation studio Rovio, maker of the Angry Birds game, said it could list on the stock exchange in the future, while declining comment on a media report that China`s Tencent Holdings was looking to acquire the company.

Rovio on Wednesday announced to cut a total of 213 employees, over 30 percent of its 670 staff. A total of 198 jobs will be slashed in Finland and 15 abroad, reported Xinhua.

"Fundamental changes are needed to ensure Rovio succeeds in its global ambitions to be the leading entertainment company with mobile games at its heart," Rovio CEO Pekka Rantala said in a statement.

Rovio said total sales fell 9 percent last year to 158.3 million euros ($169 million), although revenue from mobile games grew 16 percent to 110.7 million on the back of new offerings.

Mobile games maker Rovio reported its operating profit fell 73 percent last year due to a drop in its licensing business, a latest sign its breakthrough Angry Birds brand is losing its appeal.

Rovio announced a plan to cut up to 130 jobs in October, saying growth had not been as strong as expected.

Finland`s Rovio, the maker of the Angry Birds mobile game, said it has hired Pekka Rantala from beverage maker Hartwall to take over as its new chief executive by the beginning of next year.