Nintendo sales and profits slip as demand for Switch consoles dries up
Nintendo’s sales and profits have slipped, as momentum for its Switch console wanes and it continues to battle a shortage of semiconductor chips.
The Japanese gaming giant pulled in £2.3bn in profit in the nine months through December, which dipped 2.5 per cent from the year prior.
Nintendo’s sales have continued to sink since August last year, declining six per cent to around £8.1bn in its most recent update today.
Sales of its popular Switch console hit a peak during the early stages of the pandemic. Allowing a lockdown-ed youth to play with friends virtually.
The release of the Animal Crossing game in March 2020 set a high bar for gaming company, when it sold over 14m copies in the period between April to September 2020.
Research has also suggested that the Switch console has been the most successful gaming device of all time.
With console sales often driven by hit games, such as Nintendo’s ‘Animal Crossing: New Horizons’, the Kyoto-based company has been swallowing a decline in popularity.
Nintendo has cut the forecast for its Switch sales for the financial year to 23m devices, after previously whittling down its expectation from 25.5m and 24m.