Interview with CEO of Razer, a gaming PC maker with 70M registered user accounts, which has steadily increased its share of revenue from software and services
Gaming company Razer reported a narrower loss in the first six months CEO Min-Liang Tan says Razer is a gateway … Tweets: @chuakongho Tweets: Chua Kong Ho / @chuakongho : I spent some time chatting with @minliangtan after Razer's half-year results, asking him one simple question: what kind of company is Razer? The answer is important in understanding where he is steering the company https://www.scmp.com/... #gaming @Razer #esports #opinion
Context & Ripple Effects
Razer came to market in 2017 as a peripherals company, raising roughly $530M in its Hong Kong trading debut. Two years on, this interview is Chua Kong Ho pressing CEO Min-Liang Tan on what the company actually is now — and the answer is visible in the numbers: a steadily rising share of revenue from software and services layered on top of 70M registered user accounts.
The arc matters because the same playbook keeps compounding in later coverage: by 2021 Razer was weighing a US secondary listing off 68% H1 revenue growth (revenues grew 68% to $752M), and by 2025-2026 Tan was positioning the installed base as the distribution channel for an AI toolset for game development and player coaching, including a partnership with Grok.
First-order effects
- Razer reports a narrower first-half loss, giving the Hong Kong-listed stock early evidence that the software-and-services mix shift is offsetting thin hardware margins.
- Tan gets a public platform to reframe Razer from gaming PC maker to gateway company — a narrative aimed directly at the investors who priced its 2017 IPO.
Second-order effects
- Every point of revenue shifted to software and services reduces Razer's exposure to the peripheral replacement cycle, letting the 70M-account base be monetized repeatedly rather than resold a mouse at a time.
- A growing services line gives Razer the recurring-revenue credibility it needs to pursue moves like the US secondary listing floated in 2021, widening its investor pool beyond Hong Kong.
Third-order effects
- If the pattern holds, gaming hardware makers converge on the platform model: devices sold near cost as the entry point, with account bases monetized through services — which is precisely where Razer's later AI-for-gamers push lands.
- Hardware brands that fail to build a services layer over their installed base risk being valued as commodity manufacturers, while those that succeed control the customer relationship their suppliers never see.
The trend: Gaming hardware companies are converting large registered-user bases into recurring software and services revenue, with AI features emerging as the next monetization layer on top of the device install base.