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Nintendo Switch sales fell 22% due to console demand declining in the fifth year

Japanese Nintendo That sale said on Thursday switch Consoles fell 22% in the first quarter as demand for hit devices declined in the market in the fifth year.Investors are game companies COVID-19 (New Coronavirus Infection) The pandemic sales boom may be losing momentum. Nintendo relies heavily on its cyclic console business, with device sales traditionally peaking around the fifth year. Nintendo sold more than half of its Switch Lite units to 1.14 million units in the April-June quarter, while the annual Switch hardware forecast remained at 25.5 million units. During the quarter, we sold 4.45 million switch consoles, including Lite.

Creator of Super mario Animal Crossing said operating profit fell 17% in the first quarter to 119.8 billion yen (about 81.10 rupees), below Refinitiv’s consensus forecast of 129.3 billion yen (about 8760 rupees). In contrast, Sony said Wednesday that sales of the new PlayStation 5 were strong, helping to make record profits during the quarter. Both companies warn that a shortage of semiconductors could exceed current goals and impair game console output. Kyoto-based Nintendo wants to revive Switch sales momentum with the new $ 349.99 Switch OLED model. launch We also rely on the pipeline of popular games to increase revenue, such as WarioWare: Get It Together and remakes of Pokemon titles.

The full-year profit forecast is 500 billion yen (about 33,900 rupees), which is lower than the average forecast of 623.5 billion yen (about 42,230 rupees). The company is known for announcing a conservative profit outlook that it will revise throughout the fiscal year. Nintendo also announced plans to buy back up to 1.51% of its shares worth 100 billion yen (about 6,770 rupees) as a positive move for shareholders.

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Nintendo Switch sales fell 22% due to console demand declining in the fifth year

Source link Nintendo Switch sales fell 22% due to console demand declining in the fifth year

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