Nintendo hikes annual Switch sales forecast to 24 million units as pandemic boosts home gaming | HT Tech

Nintendo hikes annual Switch sales forecast to 24 million units as pandemic boosts home gaming

Nintendo benefits from growing consumer spending on home gaming.

By:REUTERS
| Updated on: Nov 05 2020, 13:36 IST
Sony Corp and Microsoft Corp will both release next-generation consoles next week, adding to competition for the mid-cycle Switch, which launched in March 2017.
Sony Corp and Microsoft Corp will both release next-generation consoles next week, adding to competition for the mid-cycle Switch, which launched in March 2017. (REUTERS)

Japan's Nintendo Co Ltd on Thursday hiked the sales forecast for its hit games console Switch to 24 million devices in the year ending March 2021 from 19 million previously, as the COVID-19 pandemic boosts consumer spending on home gaming.

Nintendo, home of the perennial "Super Mario" franchise, had been reluctant to hike forecasts despite blistering sales of its Switch system, saying the boost from stuck-at-home consumers may prove transitory.

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The jump in the sales forecast came as the Kyoto-based gaming company reported operating profit for April-September tripled to 291.4 billion yen ($2.8 billion) from 94 billion yen in the same period a year earlier.

But lockdowns and curbs imposed around the world to try to stem the spread of the coronavirus mean entertainment options remain curtailed for many as consumers look toward the year-end shopping season, pointing to continued demand for gaming.

ALSO READ: Nintendo boosts Switch production by another 20%

Sony Corp and Microsoft Corp will both release next-generation consoles next week, adding to competition for the mid-cycle Switch, which launched in March 2017.

Sony's gaming chief said last week that pre-release demand for its upcoming console, the PlayStation 5, is exceeding expectations, with the tech giant raising its full-year forecast.

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First Published Date: 05 Nov, 13:36 IST
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