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Nintendo Boosts Profit Forecast as Switch Continues to Thrive

Updated: Jan 8

Nintendo, the renowned gaming company, has raised its operating profit forecast for the current financial year by 11% to 500 billion yen ($3.32 billion).

Nintendo
Credit: Kiyoshi Ota | Bloomberg | Getty Images

This increase comes as the company's popular Switch console maintains its strong performance in the market. Despite being in its seventh year, the Switch has managed to attract gamers through a combination of hardware updates and the release of beloved franchises.


In the first half of the financial year, Nintendo sold 6.84 million units of the Switch, slightly surpassing the 6.68 million units sold during the same period last year. The success can be attributed to critically acclaimed titles such as "The Legend of Zelda: Tears of the Kingdom" and "Super Mario Bros. Wonder," which were released in May and October respectively.


Nintendo's broad appeal in pop culture has also been evident with the success of the Super Mario Bros. movie. The company has maintained its full-year forecast of selling 15 million Switch units, which represents a 16.5% decline compared to the previous year. Nintendo President Shuntaro Furukawa stated that the target is reasonable and neither conservative nor aggressive.


Despite the challenges posed by the pandemic, this year has seen a remarkable release of new games across the industry. "Tears of the Kingdom" alone has sold 19.5 million copies as of September-end. As a result, Nintendo has raised its full-year software forecast by approximately 3% to 185 million units.


Looking ahead to the critical year-end shopping season, Nintendo is expected to bolster its lineup with new additions, including the highly anticipated "Super Mario RPG," set to launch on November 17.

 
  • Nintendo raises its operating profit forecast for the current financial year by 11% to 500 billion yen.

  • The Switch console sold 6.84 million units in the first half of the financial year.

  • Critically acclaimed titles like "The Legend of Zelda: Tears of the Kingdom" and "Super Mario Bros. Wonder" contribute to the Switch's success.

Source: REUTERS

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