Nintendo increases profit forecast as Switch console continues to attract gamers

Nintendo, on Tuesday, increased its operating profit forecast for the fiscal year ending March by 11 per cent to 500 billion Yen ($3.32 billion) as its enduring Switch console continues to captivate gamers. 

The Kyoto-based company has prolonged the life of the hybrid home/portable device, now in its seventh year, with a slew of impactful games. In the first six months of the fiscal year, Nintendo sold 6.84 million Switch units, a slight uptick from the 6.68 million units sold in the same period last year.

Noteworthy releases this year include "The Legend of Zelda: Tears of the Kingdom" in May and "Super Mario Bros. Wonder" in October, both garnering critical acclaim. The success of a Super Mario Bros. movie further highlights Nintendo's broad pop culture appeal.

While maintaining its full-year forecast for the console at 15 million units, representing a 16.5 per cent decline from the previous year, Nintendo anticipates a boost in sales during the year-end shopping season with the upcoming release of "Super Mario RPG" on November 17. This year, marked by a surge in new game releases across the industry, signals a standout period after pandemic-related disruptions to development.