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Sales aren’t so great at Nintendo right now, as the Switch video game console loses its sparkle
Nintendo lowered its full-year profit and sales forecast as the Switch video game console loses its sparkle.
The Japanese company made money during the pandemic and posted record profits following the lockdown gaming boom and the release of games like Animal Crossing: New Horizons.
But the tech giant behind Super Mario has been forced to cut its profit forecast by 8 per cent to £2.4 billion for the full year ending March 2023 as appetites for its most famous but aging titles wane.
Nintendo, which is behind Super Mario (pictured), has been forced to cut its profit forecast by 8 per cent to £2.4 billion for the full year ending March 2023
It lowered the annual sales forecast for its popular Switch console from 19 million to 18 million, after 28.8 million units sold in 2020.
Nintendo said global sales for the nine months to December were also hit by chip shortages, making console production increasingly difficult.
The chips are mainly made in China, which has had strict lockdown rules that have affected other tech companies like Apple in recent months.
It said sales leading up to Christmas were disappointing compared to the previous two years, compounded by the fact that the most popular titles, including Pokemon games, were not selling at the same pace as previous years.
Nintendo’s net profit for the nine months was £2.2 billion, down 5.8 per cent on the same period of the previous year