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HomeBusinessNintendo hikes sales forecast of Switch console to 15.5 million units

Nintendo hikes sales forecast of Switch console to 15.5 million units

Nintendo has maintained player interest in its older Switch console series through key games featuring characters like Super Mario and Zelda.

Charly Triballeau | AFP | fake images

Nintendo said it now expects to sell 15.5 million of its flagship Switch consoles in its current fiscal year, beating an earlier forecast, after beating market expectations for December quarter earnings and revenue.

The Japanese gaming giant previously forecast sales of 15 million Switch consoles in the current fiscal year ending in March.

Here’s how Nintendo fared in its fiscal third quarter compared to LSEG estimates:

  • Net sales: 598.6 billion Japanese yen ($4 billion) versus 568.7 billion yen expected
  • Net profit: 136.7 billion Japanese yen vs. 130.3 billion Japanese yen expected

Fans and investors are keeping an eye on when Nintendo will release a successor to its nearly seven-year-old Switch console. Analysts who spoke to CNBC said they expect a new Nintendo Switch to come out this year.

The Japanese gaming giant has managed to maintain momentum recently thanks to the release of “Super Mario Bros. Movie” and the flagship game Zelda last year, boosting interest in the Switch and helping sales of the aging console.

Nintendo’s Tokyo-listed shares have already risen about 14% this year amid a broader rally in Japanese stocks and as investors bet the gaming company will launch a new console soon.

This is breaking news. Please check back for more information.

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