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Friday, March 29, 2024
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Nintendo Ramps Up Production of Switch Console

  • As of Sept. 30, the company has sold 114.3 million Switch units since its 2017 release.
  • The best-selling console of all time is Sony’s PlayStation 2 at over 155 million units.
Nintendo

Nintendo is picking up the pace due to high demand for its hybrid console. 

The gaming giant is reportedly planning to increase production of the Switch after the Japan-based company ships roughly 21 million units in the coming fiscal year ending March 2024. 

In November 2022, Nintendo slashed its full-year sales forecast for the Switch — its best-selling home gaming console ever — to 19 million units following lackluster profits. The company reported $4.5 billion in sales for the six months ending Sept. 30, 2022 — up 5% year-over-year.

Nintendo Slashes Forecast for Popular Gaming Console

Nintendo slashed its full-year sales forecast for the Nintendo Switch.
November 8, 2022

Switch sales reached 6.68 million units during that same period — down 19% year-over-year — as Nintendo was hampered by the ongoing chip shortage plaguing the tech industry.

  • Nintendo raised its Switch sales projection, believing it can now reach demand. 
  • As of Sept. 30, the company has sold 114.3 million Switch units since its 2017 release. 
  • The best-selling console of all time is Sony’s PlayStation 2 at over 155 million units

Nintendo is also looking to bolster its reach in the mobile gaming market, which is projected to exceed a valuation of $215 billion by 2028.

In November 2022, the company announced a joint venture with mobile gaming company and “Animal Crossing” co-developer DeNA. The two entities will establish Nintendo Systems Co., Ltd., which will work to “strengthen the digitalization of Nintendo’s business.”

New Stakeholder

Last year, the Public Investment Fund — Saudi Arabia’s sovereign wealth fund — acquired a 5% stake in Nintendo for $3 billion, making it the company’s fifth-largest shareholder.

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