Japan's Nintendo says profit slid 71% in Q1


A screen showing the characters from the Animal Crossing series video game is seen at a Nintendo store in Tokyo on June 10, 2020. — AFP

TOKYO: Japan's Nintendo said on Friday it sold 2.1 million Switch units in the April-June period.

That compared with 3.91 million units in the same period a year earlier.

Nintendo is eking out sales from its aging hybrid home-portable Switch console as it prepares to launch a successor device, with an announcement due in the current fiscal year.

The Kyoto-based gaming company maintained its full-year Switch sales forecast of 13.5 million units.

The company has a thin pipeline of titles announced for this year, with upcoming games including "The Legend of Zelda: Echoes of Wisdom" and "Mario & Luigi: Brothership".

The industry is grappling with rising costs and weak pricing power, with Sony-owned developer Bungie announcing this week it is cutting almost a fifth of its workforce.

Nintendo's operating profit fell 71% to 54.5 billion yen ($365.6 million) in the first quarter, below analyst estimates. - Reuters

Follow us on our official WhatsApp channel for breaking news alerts and key updates!
Nintendo , Switch , gaming

Next In Business News

Velesto terminates US$63mil sale of Naga 3 drilling rig
Aneka Jaringan proposes RM1.02mil acquisition of 51% stake in P3 International
Bursa Malaysia issues show-cause notice to Vinvest over potential delisting
Million Reenergy eyes ACE Market listing
Indonesia's B50 mandate opens growth opportunities for Malaysian palm oil
Plantation stocks lift FBM KLCI as regional markets slide
China stocks dip to three-month lows on Gulf tensions, profit-taking
Oil jumps over 3% as fresh military strikes threaten Hormuz shipments
SK Hynix plunges after Nasdaq debut amid profit-taking, diminishing earnings optimism
Gold slides over 1% as oil surges on Strait of Hormuz closure fears

Others Also Read