Nintendo is arguably the most important company of all time when it comes to video games, releasing some of the most iconic consoles and games for decades.
The company’s latest console, the Switch, has been a hit since its release in 2017, with sales continuously exceeding Nintendo’s projections.
The former president of Nintendo of America, Reggie Fils-Aimé, even revealed the Switch was a “make or break product” for Nintendo as the company’s Wii U saw poor sales.
As the pandemic has forced people to live a more confined life, Nintendo has seen a further boost to Switch sales. Nintendo released its best earnings since 2008 yesterday as the company now expects to sell 26.5 million Switch consoles in its current fiscal year after already surpassing its previous estimate of 24 million units.
This marks the second time Nintendo has raised its annual Switch sales guidance after increasing its estimates from 19 million to 24 million last year.
Nintendo saw sales for the first nine months jump by more than 37% compared to the same period last year to 1.4 trillion yen, or about $13 billion. Nintendo’s net profit jumped by more than 91% during the same period, leading Nintendo to increase its net profit estimate for the year by 33%.
“The Switch has turned from being a console to a lifestyle product ‘tailor-made’ for Covid-19 times, with Nintendo surfing on that wave,” said Serkan Toto, founder of game industry consultancy Kantan Games.
With the fourth anniversary of the Switch’s debut on March 3, 2017 approaching, Nintendo revealed it has now sold just under 80 million units as of the end of 2020, giving the Switch more sales than the Nintendo 3DS. The Switch now has its eyes set on the Wii and Gameboy, which have sold more than 101 million units and 118 million units, respectively.
As for how the Switch will outsell those iconic consoles, don’t expect it to get a near-term boost from an updated version. When asked about the possibility of Nintendo releasing an upgraded model of the Switch, Nintendo president Shuntaro Furukawa replied “Not anytime soon.”
This article was originally published by Market Crumbs.com.
