According to Gamebiz.jp via Gematsu, Nexon has cancelled development on the MMORPG Final Fantasy XI R mobile game alongside Square Enix.
The post says the development on the mobile game came to an end after both Square Enix and South Korean company Nexon decided the working title did not meet creative standards seen in the Final Fantasy franchise.
Both developers relocated their corresponding teams.
Final Fantasy XI R was originally announced in March 2015 and was supposed to be released in 2016. However, in 2016 and 2017, Nexon continued to state the title was under development. In 2018, Nexon One Studio took over development along with a new direction for the game, as an trading card title.
South Korean media announced in December 2020 the title had been cancelled and employees were reassigned.
In February 2021, during an investor meeting, Nexon CEO Owen Mahoney confirmed the cancellation.
[Source]: Gamebiz.jp: ネクソン、『ファイナルファンタジー XI R』開発プロジェクト中止 クリエイティビティの観点から期待水準に達していない – [Archive].
[Via]: Gematsu: Final Fantasy XI Reboot development officially cancelled – [Archive]; Fandom: Final Fantasy XI Reboot – [Archive].