Nintendo, the Japanese gaming company, scored big as it reported a staggering profit of $2.2 billion, outperforming analysts’ estimates. Nintendo’s share price increased about 2.2% on Tuesday, following the news (a win for its investors too).
Nintendo’s gains can be largely attributed to Switch (a gadget in its product suite), which sold 26.5 million units. Switch’s popularity recently soared thanks to the introduction of limited-edition designs, a less expensive variation (Switch Lite), and exclusive games (eg Mario Kart and Animal Crossing: New Horizons) that all became blockbuster titles.
Nintendo is reportedly working on an upgraded version of Switch that will be able to compete with the PlayStation 5 and Xbox Series X consoles – why not take advantage of what you’ve got going well for you, right?
Let’s hope that Nintendo’s game development team can churn out more of the year’s crowd favorites like Super Smash Bros. and avoid fiascos like Cyberpunk 2077, to keep this winning streak going!