Reported 2 months ago
Nintendo's operating profit plummeted 71% due to a slowdown in consumer demand for its aging Switch console as they await the launch of a new model. The company reported a substantial decline to ¥54.51 billion ($365.1 million) for the quarter ending June, significantly less than analysts' expectations. With competition from Sony's PlayStation 5 and no major software releases lined up, Nintendo faces challenges in maintaining sales of its seven-year-old hardware while planning to unveil a new console by March.
Source: YAHOO