In a bid to revive its ailing licensing business, Finnish video game developer Rovio, the maker of hugely popular game "Angry Birds" - the number one paid mobile app of all time - on Monday said that the company will be partnering with Danish toymaker Lego to develop a line of Angry Birds themed construction toys.

The company's announcement comes just months after Rovio reported a dismal 2014 earnings, a fall in profits by 73 percent due to a sharp dip in licensing the Angry Birds brand on toys, clothing and sweets.

The company is yet to announce the exact release date for the Lego toys. But according to IBTimes, it may become available in Spring next year, to coincide with the upcoming 3D movie adaptation of one of the most popular mobile games in digital history. The movie will be distributed by Sony Pictures. 

Rovio is hoping that the movie will help turn around the company's recent dip in growth. 

The original Angry Birds games garnered a huge fan following after it was initially launched in 2009. But the story today is that the company is losing profits, as game enthusiasts are looking beyond the simple Angry Birds game, where birds on slingshots are used to launch attacks on "pigs"  trying to steal the bird's eggs. Also the company has struggled to produce a new hit game.

Reuters reported that Rovio recently cut about 110 jobs, or 14 percent of its workforce. The lay-offs were done due to the fact that the game is losing its appeal, which in effect is crippling the company as profits keeps on falling. 

NDTV further points out that the game is missing out on one platform: virtual reality (VR). In a tech event last week, Angry Birds game was demoed using the Samsung Gear VR to VIP pass holders at Las Vegas' Rock in Rio. But it was not clear whether Rivio is planning to launch a new game or if it was just another promotional event.