Nintendo Switch Rides Pandemic Boost to Hike Sales Forecast to 2.4 Crore Units hd46 Technology News

Nintendo was earlier reluctant to hike forecasts, saying the boost from stuck-at-home consumers may prove transitory. 6k292w

By Reuters | Updated: 5 November 2020 13:38 IST

Nintendo Switch Rides Pandemic Boost to Hike Sales Forecast to 2.4 Crore Units

The jump in the sales forecast came as the Nintendo reported operating profit for April-September d6nd

Highlights

Nintendo is home of the perennial "Super Mario" franchise
Sony and Microsoft will release next-generation consoles next week
Pre-release demand for the PlayStation 5 exceeded expectations

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Japan's Nintendo on Thursday hiked the sales forecast for its hit games console Switch to 2.4 crore devices in the year ending March 2021 from 1.9 crore previously, as the COVID-19 pandemic boosts consumer spending on home gaming.

The jump in the sales forecast came as the Kyoto-based gaming company reported operating profit for April-September tripled to JPY 291.4 billion (roughly Rs. 20,800 crores) from JPY 94 billion (roughly Rs. 6,700 crores) in the same period a year earlier.

Switch system, saying the boost from stuck-at-home consumers may prove transitory.

Nintendo Switch Online Subscriptions Boosted by Fans of Animal Crossing

But lockdowns and curbs imposed around the world to try to stem the spread of the coronavirus mean entertainment options remain curtailed for many as consumers look toward the year-end shopping season, pointing to continued demand for gaming.

Microsoft will both release next-generation consoles next week, adding to competition for the mid-cycle Switch, which launched in March 2017.

Sony's gaming chief said last week that PlayStation 5, is exceeding expectations, with the tech giant raising its full-year forecast.

© Thomson Reuters 2020

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