by Nintendo, the Kyoto-based gaming firm, has raised its operating profit forecast for the current financial year ending in March by 11% to 500 billion yen ($3.32 billion). This increase in forecast comes as heavy-hitting franchises continue to attract gamers to Nintendo’s aging Switch console. The company has extended the lifecycle of the hybrid home/portable device, which is currently in its seventh year on the market, through incremental hardware updates and popular software releases featuring beloved characters.
In the first six months of the financial year, Nintendo sold 6.84 million units of the Switch console, slightly more than the 6.68 million units sold in the same period last year. The success of critically acclaimed titles, such as ‘The Legend of Zelda: Tears of the Kingdom’ which was released in May, and ‘Super Mario Bros. Wonder’ which launched in October, has contributed to the strong sales of the console.
Nintendo’s wide pop culture appeal has been further demonstrated by the success of the Super Mario Bros. movie. The company maintained its full-year forecast for the Switch console, expecting to sell 15 million units, which would represent a 16.5% decline compared to the previous year. Nintendo President Shuntaro Furukawa stated that this target is reasonable and in line with expectations.
This year has been notable for the release of new games across the gaming industry, following disruptions caused by the pandemic. ‘Tears of the Kingdom’ alone has sold 19.5 million copies as of September-end. In light of this, Nintendo has raised its full-year software forecast by approximately 3% to 185 million units.
Nintendo’s line-up for the critical year-end shopping season is expected to be further strengthened with the addition of new titles, including ‘Super Mario RPG’ which is set to launch on November 17th. With these strategic moves and the continuing popularity of their titles, Nintendo is poised to capitalize on the momentum and drive sales of the Switch console in the coming months.
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1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
