Nintendo Is Rolling In The Money, Thanks To Nintendo Switch
It’s been quite a long time since Nintendo’s been able to post a profit. For years, the [...]
It's been quite a long time since Nintendo's been able to post a profit. For years, the company, which had flourished during the Nintendo Wii era, found itself lacking in sales, mainly because the Wii U failed to connect to its key audience. The Nintendo 3DS did well, thanks to games like Pokemon and Super Mario 3D Land, but it wasn't quite enough to keep Nintendo out of the red.
Now, though? The company is doing way better. After posting eight million Nintendo Switch systems shipped a little while back, CNN is reporting that it's looking at an incredible profit for the first time in several years.
Nintendo has noted that it expects an operating profit for the current financial year to the tune of 120 billion yen, or $1.06 billion – that's double the 65 billion yen ($572 million) it predicted just a few months back, when the Nintendo Switch was just hitting its stride. That's the first time since 2010 that the company has posted a profit, when the DS and Wii were doing well on the market.
With that, the company has changed its forecast of sales for the holiday season. Initially, it had noted that games like Super Mario Odyssey and The Legend of Zelda: Breath of the Wild would post around 35 million copies sold. Now? Its prediction has ballooned up to 50 million – and considering the quality of those games, amongst others, it should have no trouble reaching that number.
And 2018 should be an even better year. CNN reported that key titles will be a hit for the system, including Tencent's Arena of Valor, which should be a big hit with the mobile crowd. "The Nintendo Switch is at the vanguard of the firm's new strategy," noted brokerage firm Daiwa about the report. It noted that with the system, Nintendo will be able "to lay claim to a greater share of the mobile game market."
Let's also not forget that it'll be dominating the mobile market directly in just a few weeks with its new Animal Crossing game for iOS and Android, which already looks to have a promising audience based on its preview numbers.
Between that and the company's push for more Nintendo Switch systems in the coming months, there's just no stopping the big N.