Japan's Nintendo Co Ltd cautioned it will take time for the launch of its S...
OSAKA - Japan’s Nintendo Co Ltd cautioned it will take time for the launch of its Switch console in China and dampened speculation about introducing a low-cost version of the device.
The news of the partnership and hopes that it will extend to mobile gaming helped lift Nintendo’s stock price to six-month highs last week. Mobile and PC gaming in China, the world’s largest video games market, dwarfs the market for consoles, whose growth has been pegged back by local regulations. It expects operating profit to rise 4.1 percent to 260 billion yen this year, well below an average analyst estimate of 342 billion yen, according to Refinitiv data.
Nintendo sold 16.95 million Switch hardware units in the year just ended, slightly undershooting its revised forecast of 17 million units. Nintendo had initially forecast sales of 20 million units before Furukawa took up the role in June.
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