These days, we see big companies reporting to their investors and customers with their quarterly reports. Nintendo did it just this morning, and the results are not as rosy as the Kyoto-based company had hoped.
The company’s profit from operations fell by 70.6%, reflected in a decline in hardware sales, software (both first-party and third-party), mobile business and IP market. It is not just a question of sales per se, as the company admits that the falling yen has hit it hard. Despite the poor results, Nintendo says in the Messagethat the forecasts remain “stable” and that the first parties had a good start to their life cycle.
Nintendo focused on the hardware side of the business, aiming to hit the 156 million Nintendo Switch console mark by the end of its fiscal year on March 31, 2025. But it hasn’t had a great start in that regard, with only 2.1 million consoles sold between April 1 and June 30, 2024, a 46.3% drop from the same period last year, leaving a total of 143 million Nintendo Switch sold to date.
With such conflicting statements on the numbers and facts, it is clear that this fiscal year will not be as rosy as the previous ones. However, the report reiterates that there will be no changes to the forecasts from the previous report on May 7, so we will see if Nintendo has any tricks up its sleeve to attract enough players and make Nintendo Switch the best-selling console in history.
